Which one of the following is the term used for the weighted average of all the possible outcomes in a theoretical probability distribution? A. Hypothetical norm B. Expected value C. Standard deviation D. Relative average
B. Expected value
The term used for the weighted average of all the possible outcomes in a theoretical probability distribution is B. Expected value.
Expected value is calculated by multiplying each possible outcome by its probability of occurring, and then adding up all of these values. This provides a measure of the average outcome that would be expected in the long run, if the event were repeated numerous times.
It is important to note that the expected value is not always a possible outcome in the distribution, but rather an average value that can be used to make decisions or predictions.
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