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Question: Compute an expected utility (by using the MEAN function)?

Question:Compute an expected utility (by using the MEAN function)?

afeddersen 444 Maple
package
March 31 2010
0

I tried to use the Statistics package to compute an expected utility, which is the mean of the product of a utility function u and a random variable f.

E.g. I have a random variable, which is binomial distributed and a utility function: u:=t->-exp(-a*t);

How do I tell Maple to compute the Mean of that product of a random variable and a utility function (i.e. to compute the expected utility)?

Anyhow, if someone knows a more efficient way, I´d also be glad to hear your suggestions.

Thanks for helping.

 

 
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