1. Calculate mean by taking the possible value of the variable and multiplying it by the probability of said value
2. Then add all values together and divide by total number of values, like a normal average.
The result is not exact for every situation, but acts as a good assumption.
1
2 reads
CURATED FROM
IDEAS CURATED BY
Basic stats to give an introduction
“
Similar ideas to 5. Mean/expected Value Of D RV
There are three common kinds of average:
Most of us tend to underestimate how long projects and tasks will take us to finish.
Time management tips:
Read & Learn
20x Faster
without
deepstash
with
deepstash
with
deepstash
Personalized microlearning
—
100+ Learning Journeys
—
Access to 200,000+ ideas
—
Access to the mobile app
—
Unlimited idea saving
—
—
Unlimited history
—
—
Unlimited listening to ideas
—
—
Downloading & offline access
—
—
Supercharge your mind with one idea per day
Enter your email and spend 1 minute every day to learn something new.
I agree to receive email updates