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October 10, 2022 at 9:23 am #668217
home001
Participant
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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 ?
October 10, 2022 at 5:02 pm #668249
John Moffat
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Assuming 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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