The weighted average of the possible values that a random variable X can assume,where the weights are the probabilities of occurrence of those values,is referred to as the:

A) variance.
B) standard deviation.
C) expected value.
D) None of these choices.

Weighted Average

An average that attributes different weights to elements in the dataset, reflecting their varying levels of importance or frequency.

Expected Value

The long-run average value of repetitions of the experiment it represents, in probability and statistics.

Random Variable

A quantity whose numerical values emerge from unpredictable phenomena.