Hi sir i hope you are doing well,
I had a mcq in my last attempt about expected value which was
Sale probability
20000 30%
30000 35%
40000 -
What is expected value of sale ?
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4y ago#1Assuming that you have remembered the entire question correctly, the probability of sales of 40,000 must be 35% (100 - 30 - 35).
The expected value is then the total of the sales multiplied by the probabilities as explained in my free lectures.
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