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Statistics and Probability

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Interpreting Mean of a Random Variable

STATS-ELEYOU

Suppose an experiment can result in one of three outcomes -2, 0, and 2 with probabilities .2, .3, and .5 respectively. Suppose further that this experiment is carried out 1 billion times and the outcomes recorded in a dataset.

A good approximation for the mean of this dataset is:

A

$0.6$

B

$0$

C

$2$

D

larger than an approximation for the variance of the dataset

E

not obtainable