Expected Value Function
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- AKA: E.
- See: First Moment, Moment Function, Sample Mean, Sample Variance, Point Estimate, Expected Utility.
- (Dubnicka, 2006c) ⇒ Suzanne R. Dubnicka. (2006). “Random Variables - STAT 510: Handout 3." Kansas State University, Introduction to Probability and Statistics I, STAT 510 - Fall 2006.
- QUOTE: The pmf of a discrete random variable and the pdf of a continuous random variable provides complete information about the probabilistic properties of a random variable. However, it is sometimes useful to employ summary measures. The most basic summary measure is the expectation or mean of a random variable X, denoted E(X), which can be thought of as an “average” value of a random variable.
- TERMINOLOGY : Let X be a discrete random variable with pmf pX(x) and support SX. The expected value of X is given by E(X) = X x∈SX xpX(x).
- Liu, Yian-Kui, and Baoding Liu. "Expected value operator of random fuzzy variable and random fuzzy expected value models." International Journal of Uncertainty, Fuzziness and Knowledge-Based Systems 11, no. 02 (2003): 195-215.