Expected value and variance MCQs, expected value and variance quiz answers to learn business analytics online courses. Learn probability distributions multiple choice questions (MCQs), expected value and variance quiz questions and answers. Career assessment test on normal distribution, random variable classes, binomial probability distribution, uniform distribution, expected value and variance test prep for business analyst certifications.

Practice probability distributions test MCQs: value which is obtained by multiplying possible values of random variable with probability of occurrence and is equal to weighted average is called, with choices discrete value, weighted value, expected value, and cumulative value for online business analyst degree. Prepare assessment test for scholarships, learning online expected value and variance quiz questions for competitive assessment in business majors for business administration certifications.

MCQ: Value which is obtained by multiplying possible values of random variable with probability of occurrence and is equal to weighted average is called

1. discrete value
2. weighted value
3. expected value
4. cumulative value

C

MCQ: Demand of products per day for three days are 21, 19, 22 units and their respective probabilities are 0.29, 0.40, 0.35. profit per unit is \$0.50 then expected profits for three days are

1. 21, 19, 22
2. 21.5, 19.5, 22.5
3. 0.29, 0.40, 0.35
4. 3.045, 3.8, 3.85

D

MCQ: Probability which explains x is equal to or less than particular value is classified as

1. discrete probability
2. cumulative probability
3. marginal probability
4. continuous probability

B

MCQ: Selling price of product is subtracted from purchasing price of product to calculate

1. profit of product
2. loss of profit
3. cumulative average
4. weighted average

A

MCQ: Number of units multiply profit per unit multiply probability to calculate

1. discrete profit
2. expected profit
3. weighted profit
4. continuous profit

B