You are playing a card game in which you have a 0.25 probability of winning each hand. If you play 15 hands,what is the mean of this binomial probability distribution?
For this case, we have that p = 0.25 and n = 15. Then, we can model this distribution as B(15,0.25). The expected value, otherwise known as the mean, is given as follows:
E(X) = np
Interpreting this result, we can expect to win approximately 4 out of the 15 hands.