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Glossary

Expected value

The expected value of a random variable X taking integer values between 1 and n is defined to be E(X)=nk=1k×Pr(X=k).

We also may talk of the "expected number" of given events occurring. If A1,A2,,Am form a collection of events, then the expected number of these events that will occur is the sum of their probabilities: Pr(A1)+Pr(A2)++Pr(Am). See indicator random variable for a precise discussion of this formula.

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