Answer:
C) 20.97 AED
Step-by-step explanation:
To find the expected value, E(X), or mean μ of a discrete random variable X, simply multiply each value of the random variable by its probability and add the products. The formula is given as [tex]\displaystyle E(X)=\mu=\sum xP(x)[/tex].
Here, x represents values of the random variable X, [tex]P(x)[/tex] represents the corresponding probability, and symbol [tex]\displaystyle \sum[/tex] represents the sum of all products [tex]xP(x)[/tex]. Here we use the symbol [tex]\mu[/tex] for the mean because it is a parameter. It represents the mean of a population.
In this case, the expected value of the ticket is [tex]\displaystyle E(X)=\mu=\sum xP(x)=12(0.08)+18(0.15)+20(0.31)+22(0.08)+24(0.15)+25(0.23)=20.97[/tex]
This means that Ahmad can expect to win 20.97 AED for the ticket.
