Expected Value of Random Variables Assignment Help

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Expected Value of Random Variables

The expected value of a random variable, in probability theory, is the expected average value of the repetitions of the experiment it is presenting in the course of long run. That is to say, each possible value which the random variable is likely to assume is multiplied by the probability of its occurrence, and a summation of these resulting products provides the expected value of the random variables. The expected value is of primary importance in determining the probability distribution.

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