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Expected Value
The long-run average value of repetitions of the same experiment or random process, calculated as the sum of all possible values weighted by their probabilities of occurrence.
Parameter
A numerical characteristic or feature of a population that is estimated using sample data.
Sample Variance
A measure of the dispersion or variability within a sample dataset, indicating how much the individual data points differ from the sample mean.
Population Variance
A measure of the dispersion of a set of data points in a population, calculated as the average of the squared distances of each data point from the population mean.
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