Random Variable & Expected Value

Random Variable

A random variable is a function that assigns a real number to each outcome of an experiment.


Expected Value


Suppose  the random variable x can take on the n values x1,x2,x3,……..xn.

Also, suppose the probabilities that values occur are, respectively,

P1.P2,……….Pn. Then the expected value of the random variable is

E(x) = x1 p1 + x2p2+……..xnpn.

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