Answer:
Expected value = 2.21
Explanation:
The formula to obtain the expected value is given by:
[tex]E\mleft(X\mright)=\mu=∑xP\mleft(x\mright)[/tex]
We will proceed to calculate the given scenario as given below:
[tex]\begin{gathered} E\mleft(X\mright)=\mu=∑xP\mleft(x\mright) \\ E(X)=(1\times0.31)+(2\times0.41)+(3\times0.07)+(4\times0.18)+(5\times0.03) \\ E(X)=0.31+0.82+0.21+0.72+0.15 \\ E(X)=2.21 \\ \\ \therefore E(X)=2.21 \end{gathered}[/tex]
Therefore, the expected value of this scenario is 2.21
