Finding the expected value of a probability function

In summary, to find the expected value of a random variable X with probability function f(x), you need to evaluate the integral of xf(x) over the entire real line. This means multiplying each possible value of X by its corresponding probability and adding all of these values together. However, the given probability function does not converge on the entire real line, so it cannot be used to find the expected value.
  • #1
Jessica21
5
0
1. Suppose X is a random variable with probability function
f(x) = 0.49x(0.3)^ (x-1). Find E(x).




2. E(X) = sum of all x of x*f(x)



3. so I know that E(X) = sum of all x of x*f(x)
so E(x)= 0.49* sum of all x of x^2(0.3)^(x-1)

But I'm not sure how do i evaluate the sum?
Can anyone please help me,thanks!
 
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  • #2
Are you sure you have the right probability function? This one doesn't converge on the entire real line and I wasn't able to find an interval where it integrated to 1.

In any event, if you have a random variable X with a probability density function f(x), then the expected value of X is
[tex] \intop_{-\infty}^{\infty} xf(x) dx [/tex]
 

1. What is the definition of expected value?

The expected value of a probability function is the theoretical average outcome of a random variable over a large number of trials.

2. How is the expected value calculated?

The expected value is calculated by multiplying each possible outcome by its corresponding probability and then summing up all of these products.

3. What is the significance of the expected value?

The expected value is an important concept in probability and statistics as it allows us to make predictions about the average outcome of an experiment or event.

4. Can the expected value be negative?

Yes, the expected value can be negative if the possible outcomes of a random variable have a negative impact or cost associated with them.

5. How is the expected value used in decision making?

The expected value can be used in decision making by comparing it to the cost or potential gain of a particular outcome. If the expected value is higher, it may be a more favorable choice.

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