The expected value of a probability distribution is the variance of the distribution. the probability density function. the average value of the distribution. the measure of the spread of the distribution. The following figure illustrates a utility curve for someone who is a risk seeker. True False The number of bad checks written at a local store is an example of a discrete random variable. True False Given this decision tree, what can be said about this decision? There are three payoffs. There are eight decisions to be made. There are three alternatives and two states of nature. There are two alternatives and three states of nature