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Tag: Expected Value

Poisson Distribution Explained

Posted on April 19, 2020April 8, 2022 By admin No Comments on Poisson Distribution Explained

Poisson Distribution outputs the probability of a sequence of events happening in a fixed time interval.

Probability, Probability Distributions

Expected Value of a Random Variable

Posted on March 19, 2020April 13, 2022 By admin No Comments on Expected Value of a Random Variable
Expected Value of a Random Variable

Expected Value is the average value we get for a certain Random Variable when we repeat an experiment a large number of times. It is the theoretical mean of a Random Variable. Expected Value is based on population data. Therefore it is a parameter.

Probability, Probability Distributions, Statistics

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