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Expected Value
The anticipated value or average outcome of a random variable, taking into account all possible outcomes weighted by their probabilities.
Probabilities
A measure expressing the likelihood of occurrence of a given event, typically defined on a scale from 0 to 1, where 0 means the event cannot occur and 1 indicates certainty.
Expected Value
A statistical concept that calculates the weighted average of all possible values for a random variable.
Probabilities
A numerical assessment ranging from 0 to 1 that quantifies how likely an event is to take place.
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