Expected Value Calculation in Probability Distributions
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Expected Value Calculation in Probability Distributions
Learn how to calculate the expected value, or mean, of a discrete random variable X with a specific probability distribution. This example features a variable X with values and probabilities as follows: 1 with a 10 percent chance, 2 with a 20 percent chance, 3 with a 30 percent chance, and 4 with a 40 percent chance. The calculation involves ...
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