Calculating Average Value of Damage w/ 30% Crit Chance

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How do I calculate the average value of some damage values where there is say a 30% chance of critical hit and on a crit 150% damage is done? I run into this problem often, if I had to guess I'd say it's likely related to the binomial distribution because there's either a crit or not, fixed probability of success, and presumably a fixed number of trials. I should mention that what value a crit does 150% of is based on a fixed number ##\theta D## where ##\theta\in\left\{ .88, 1.12\right\}## is a random number but please try not to use that fact in the calulation if at all possible I'd like it in general terms please. Thanks!
 
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benorin said:
So 0.3 from the crit rate, 1.5 from the 150% dmg, I'm assuming the 0.7=1-0.3 and 1.0 for normal or 100% dmg, correct?
Yes, it is a weighted average.