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Determine the expected value of the average

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Reference no: EM131251594

Let X be the value on one card drawn from the numbers shown: 0 , 2 , 6 , 8.

1) Determine E(X)

2) Determine the expected value of the SUM of three draws, with replacement, from the set of numbers,

3) Determine the expected value of the AVERAGE of the three draws made in the second question.

Reference no: EM131251594

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