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Variance
A measure of variability that denotes the average of the squared differences from the mean, used in statistics to indicate how data points in a set are spread out.
Normal Distribution
A symmetrical bell-shaped distribution of data in which most of the values cluster around the mean.
Uniform Probability Distribution
A distribution in which all outcomes are equally likely to occur within a certain range.
Expected Value
The long-run average value of repetitions of the same experiment or random trial.
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