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No. The mean is the expected value of the random variable but you can also have expected values of functions of the random variable.
If you define X as the random variable representing the result of a single throw of a fair die, the expected value of X is 3.5, the mean of the probability distribution of X. However, you play a game where you pay someone a certain amount of money for each throw of the die and the other person pays you your "winnings" which depend on the outcome of the throw. The variable, "your winnings", will also have an expected value. As will your opponent's winnings.
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What is The mean of a discrete probability distribution is also called the?
The mean of a discrete probability distribution is also called the Expected Value.
What is the meaning of expected value in a probability distribution?
The expected value is the average of a probability distribution. It is the value that can be expected to occur on the average, in the long run.
Consider a binomial distribution with 10 trials What is the expected value of this distribution if the probability of success on a single trial is 0.5?
Consider a binomial distribution with 10 trials What is the expected value of this distribution if the probability of success on a single trial is 0.5?
How do you find the expected value of X?
For a discrete probability distribution, you add up x*P(x) over all possible values of x, where P(x) is the probability that the random variable X takes the value x. For a continuous distribution you need to integrate x*P(x) with respect to x.
The mean or expected value of the distribution of a discrete random variable is?
30.47
