Hello everyone! :)
I hope I will get an answer for this!
As a USER-DEFINED function I would like to be able to calculate the Expected Value of
n outcomes with their respective probabilities (also in a single matrix)
it should look something like this:
[latex]\begin{pmatrix}
1 & 1/6 \\
2 & 1/6 \\
3 & 1/6 \\
4 & 1/6 \\
5 & 1/6 \\
6 & 1/6 \end{pmatrix}[/latex]
To find the expected value I would need to do:
[latex](1 \times 1/6) + (2 \times 1/6) + ... + (6 \times 1/6) = E(X)[/latex]
Basically, multiply each
outcome with its
probability and finally
sum the whole lot...
IDEALLY...I would like to be able to make a single 2*
n matrix with outcomes and probabilities side-by-side, store it as
A and be able to do:
or...which is faster to type: make a n*2 matrix!
Anyways...sorry for the long post, any help will be much appreciated!!!!