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What else can I help you with?
Is the mean of probability distribution is called its expected value?
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.
How do you compute expected value from random discreet variable?
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.
What the deference between variable and variate?
A random variate is a particular outcome of a random variable: the random variates which are other outcomes of the same random variable would have different values.
Random variable that can take any numeric value within a range of values?
continuous random variable
What is the difference between random variable and random process?
A random variable is a variable which can take different values and the values that it takes depends on some probability distribution rather than a deterministic rule. A random process is a process which can be in a number of different states and the transition from one state to another is random.
What is a qualitative random variable?
A random variable which can take qualitative values rather than numeric values. For example, the question "What colour are your eyes?" will generate qualitative answers.
What is meant by discrete random variable?
A discrete random variable is a variable that can only take some selected values. The values that it can take may be infinite in number (eg the counting numbers), but unlike a continuous random variable, it cannot take any value in between valid results.
A random variable that can assume only a finite number of values is referred to as?
That would be a discrete variable; or, in your case, it would probably be called a discrete random variable.
What is the expected value of x?
The expected value of a random variable ( x ) is a measure of the central tendency and is calculated as the weighted average of all possible values, where each value is weighted by its probability of occurrence. Mathematically, it is expressed as ( E(x) = \sum (x_i \cdot P(x_i)) ) for discrete variables, or as ( E(x) = \int x \cdot f(x) , dx ) for continuous variables, where ( f(x) ) is the probability density function. The expected value provides insight into the long-term average outcome of a random variable in a probability distribution.
What is a random variable?
A random variable is a function that assigns unique numerical values to all possible outcomes of a random experiment. A real valued function defined on a sample space of an experiment is also called random variable.
What is the definition of a sample space?
the range of values of a random variable.
Can you compare an expected value to a calculated value?
Yes, an expected value represents the theoretical average outcome of a random variable based on its probability distribution, while a calculated value is the result obtained from actual observations or experiments. Comparing the two can help assess the accuracy of predictions and the reliability of the model used to derive the expected value. Discrepancies between the expected and calculated values can indicate potential biases, errors in the model, or the influence of random variation in the data.
