Expected Value

Poisson Distribution Explained

Probability, Probability Distributions

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

Expected Value of a Random Variable

Probability, Probability Distributions, Statistics

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.