The Expected Value is the average value of the random variable over a large number of trials.
E(X)= ∑ x p(x)
The expected value of the number of passengers waiting at a bus stop is 1.
Therefore as the data is given the E(x) can be easily calculated:
E(X)= ∑ x p(x)
E(X)= (0)0.4 + (1)0.3 + (2)0.2 + (3)0.1
E(X)= (0) + 0.3 + 0.4 + 0.3
E(X)= 1
The expected value can be understood by
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