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2 cards from this section. Quick, good the night before a test.
What is the expectation of tossing a fair coin twice?
Consider the probabilities of getting 0, 1, or 2 heads.
Calculate the expectation for a discrete random variable with values {1, 2, 3} and probabilities {0.2, 0.5, 0.3}.
Use the formula E(X) = ∑x_i * p_i.
What is the expectation of rolling a fair 6-sided die?
Consider how you can calculate the average of the sides.
True or False: Expectation can be calculated using both sums and integrals.
Recall the different approaches to calculate expectation.
Given X is a normal random variable with mean = 10 and variance = 4, calculate E(X + 3).
Use the linearity property of expectation.
Explain how expectation can simplify the analysis of a probability distribution in financial modeling.
Think about the implications of average outcomes in risk assessment.
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