The expected value of a Martingale system is the last observed value.
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Follow these steps:Find all the values that the random variable (RV) can take, x.For each x, find the probability that the RV takes than value, p(x).Multiply them: x*p(x).Sum these over all possible values of x.The above sum is the expected value of the RV, X.
If X takes the value 1 with probability p and 0 with probability (1-p), and there are n independent trials then E(X) = np
I think it means to find the theoretical probability of something random that has results that are numbers. For instance, rolling a die and trying to get a 6 is a "chance activity with numerical outcomes".
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The way to find this answer would be to find the value to X. This is used in math.