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Thread: Is the mean and Expected value the same thing?

  1. #1
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    Is the mean and Expected value the same thing?

    Hi all,

    Is Mean and Expected (I guess, also known as the First Moment) value the same thing?
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  2. #2
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    Re: Is the mean and Expected value the same thing?

    Conceptually, no. The mean is the average value of a set of data, while the expected value represents the most likely event in probability.
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    Re: Is the mean and Expected value the same thing?

    Thanks,

    Sorry, I forgot to mention, the question is concerned about SPECIFICALLY for random variables...
    Is mean and Estimated value (First moment) the same thing for a random variable (be it continuous or discrete)
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    Re: Is the mean and Expected value the same thing?

    Quote Originally Posted by sjaffry View Post
    Thanks,

    Sorry, I forgot to mention, the question is concerned about SPECIFICALLY for random variables...
    Is mean and Estimated value (First moment) the same thing for a random variable (be it continuous or discrete)
    Here is a very good webpage on expected value.
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