Expected+or+Mean+Value

Expected or Mean Value (Distribution Theory) (GWU EMSE-271)
Index | Topics (Logical Lectures) | Lectures | Problems | Readings | References

The (E[X]) (Slides 40-41) is The ~mean~; central tendancy; balance point. (EMSE 280, Srping 2009). "The mean value is also referred to as a **long-run average** ." - EMSE 271, Fall 2009 (Slide 41)


 * Dr. Mazzuchi. with Mean and Variance example. **
 * You can die, but can get four more years if operate. You get data. Doctor 1 wide spread. Doctor 4 narrow spread. Both have mean of 4. Which is better?
 * Mean (central tendency is good) but variance provides additional information.
 * Other descriptions of mean include balance point, long-run average.


 * Sources:**
 * EMSE 271, Fall 2009 (Slides 40-41)
 * EMSE 280, Spring 2009