Question

I need help with this expected value out come assignment

Answer 1

To fill the values, we are given a list of the percentage of customers that spend a specific amount of money.

The x1, x2, x3, and x4 are the money spent, and the P(x1), P(x2),... are the proportion of customers that spend that amount, in decimal

Then, we can complete:

`\begin{gathered} X_1=8 \\ . \\ P(X_1)=0.20 \\ . \\ X_1\cdot P(X_1)=8\cdot0.20=1.6 \\ \end{gathered}`
`\begin{gathered} X_2=10 \\ . \\ P\left(X_2\right)=0.35 \\ . \\ X_3\cdot P(X_3)=10\cdot0.35=3.5 \end{gathered}`
`\begin{gathered} X_3=12 \\ . \\ P(X_3)=0.40 \\ . \\ X_3\cdot P(X_3)=12\cdot0.40=4.8 \end{gathered}`

`\begin{gathered} X_4=15 \\ . \\ P(X_4)=0.05 \\ . \\ X_4\cdot P(X_4)=15\cdot0.05=0.75 \end{gathered}`