Business Uses of Random Variables

Expected Value of a Discrete RV. The mean µ of a probability distribution or the mean of a random variable or the expected value of X is defined to be. Page 2. µ = E(X) = and more generally for a function g(x) E[g(x)] = Σg(x) p(x) In particular, the expected value of the RV X2 is given by. E(X2) = ................
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