Answer:
The expected value is 1.8
Step-by-step explanation:
Consider the provided information.
Suppose there’s a 15% chance of having 0 announcements, a 30% chance of having 1 announcement, a 25% chance of having 2 announcements, a 20% chance of having 3 announcements, and a 10% chance of having 4 announcements.
[tex]\text{Expected Value}=a \cdot P(a) + b \cdot P(b) + c \cdot P(c) + \cdot\cdot[/tex]
Where a is the announcements and P(a) is the probability.
[tex]\text{Expected Value}=0\cdot 15\% + 1 \cdot 30\% + 2 \cdot 25\% + 3\cdot20\%+4\cdot10[/tex]
[tex]\text{Expected Value}=1 \cdot 0.30+2 \cdot 0.25 +3 \cdot 0.2 + 4\cdot 0.10[/tex]
[tex]\text{Expected Value}=1.8[/tex]
Hence, the expected value is 1.8