Expected Value and Variance MCQs Quiz Online PDF Download

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MCQs on Expected Value and VarianceQuiz PDF Download

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