How do we define expectation of a random variable?
- It is the most likely outcome of the variable
- It is the range of the variable
- It is the variance of the variable
- It is the weighted average of all possible values the variable can take, with weights being the respective probabilities
The expected value or expectation of a random variable is a key concept in probability and statistics and represents the weighted average of all possible values that the variable can take, with weights being the respective probabilities.
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