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Expected Value
The long-run average value of repetitions of the experiment it represents, reflecting the probability-weighted average of all possible values.
Probability Function
This is a function in mathematics that determines the probability of different outcomes happening in an experiment.
Weighted Average
An average where each quantity to be averaged is assigned a weight, reflecting its importance.
Continuous Random
A variable that can take an infinite number of values within a given range, where the outcomes cannot be counted and can only be described using intervals on the real number line.
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