The Triple
The expected value is
Final Answer: The expected value is
Step 1 :The Triple L investment club is considering purchasing a certain stock. After considerable research, the club members determine that there is a 50% chance of making
Step 2 :The expectation of a random variable is the sum of the products of each outcome and its probability. In this case, the outcomes are making
Step 3 :We can calculate the expectation by multiplying each outcome by its probability and then summing these products. The outcomes are
Step 4 :The expectation is calculated as follows:
Step 5 :Final Answer: The expected value is