A project has the following projected outcomes in dollars: $230, $340, and $590. The probabilities of their outcomes are 25%, 55%, and 20% respectively. What is the expected value of these outcomes? $362.50 $347.50 $407.50 $377.50

$362.5

Step-by-step explanation:

Given that :

x : 230 340 590

P(x): 0.250.55 0.20

To obtain the expected value E(x) of the outcome ; we can use the formula :

E(x) = Σ(x * P(x))

E(x) = (230 * 0.25) + (340 * 0.55) + (590 * 0.20)

E(x) = 57.50 + 187 + 118

E(x) = 362.50

what does x eaqual

step-by-step explanation:

1/3 + 1/3 ≠ 2/6 because 1/3 alone = 2/6  

step by step explanation:

1/3 + 1/3 = 2/3       2/3=4/6