CALCULUS Understanding Its Concepts and Methods

Expected value

The expected value is the average payoff per experiment if the experiment is repeated an indefinite number of times.

The expected value for a continuous random variable with probability density function on the interval is given by

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Copyright © 2006 Darel Hardy, Fred Richman, Carol Walker, Robert Wisner. All rights reserved. Except upon the express prior permission in writing, from the authors, no part of this work may be reproduced, transcribed, stored electronically, or transmitted in any form by any method.