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

1. ## 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?

2. ## 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.

3. ## 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)

4. ## Re: Is the mean and Expected value the same thing?

Originally Posted by sjaffry
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.