(Answered) Suppose a company rates it employees on a 1-4 scale with 4

Economics

Suppose a company rates it employees on a 1-4 scale (with 4 being the highest rating) and the following probability distribution describes the distribution of the ratings:

23% of the employees had a "4"; 23% of the employees had a "3" rating; 29% of the employees had a "2" rating; and the remaining employees recieved a "1" rating.

What is the expected value of the rating of a randomly chosen employee? (please express your answer using 2 decimal places)

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Business Economics, Economics

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