Mean (Expected) Value
Definition
The mean value, also known as the expected value, is the average outcome of a random variable. It represents the long-term average or center of the distribution.
Analogy
Think of the mean value as the bullseye on a dartboard. Just like how hitting the bullseye would give you an overall average score, the mean value gives you an overall average outcome in statistics.
Related terms
Median: The median is another measure of central tendency that represents the middle value in a dataset when it is arranged in ascending order.
Mode: The mode is the most frequently occurring value in a dataset.
Range: The range is a measure of dispersion that represents the difference between the maximum and minimum values in a dataset.
"Mean (Expected) Value" appears in:
Additional resources (1)
Resources
© 2024 Fiveable Inc. All rights reserved.
AP® and SAT® are trademarks registered by the College Board, which is not affiliated with, and does not endorse this website.