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Informally, the expected value is the mean of the possible values a random variable can take, weighted by the probability of those outcomes. Since it is obtained through arithmetic, the expected value sometimes may not even be included in the sample data set; it is not the value you would expect to get in reality.
The proposition in probability theory known as the law of total expectation, [1] the law of iterated expectations [2] (LIE), Adam's law, [3] the tower rule, [4] and the smoothing theorem, [5] among other names, states that if is a random variable whose expected value is defined, and is any random variable on the same probability space, then
In statistics, expected mean squares (EMS) are the expected values of certain statistics arising in partitions of sums of squares in the analysis of variance (ANOVA). They can be used for ascertaining which statistic should appear in the denominator in an F-test for testing a null hypothesis that a particular effect is absent.
Also confidence coefficient. A number indicating the probability that the confidence interval (range) captures the true population mean. For example, a confidence interval with a 95% confidence level has a 95% chance of capturing the population mean. Technically, this means that, if the experiment were repeated many times, 95% of the CIs computed at this level would contain the true population ...
Colorado Historic Newspapers Collection (1859–2021; approximately 2.5 million pages) Elephind – text searchable free database with access to over 200 million items from 4,345 newspaper titles. Florida Digital Newspaper Collection; Georgia (US State) Historic Newspapers - provides 984 newspaper titles from 1763 to the present day.
Expected value of sample information (EVSI) is a relaxation of the expected value of perfect information (EVPI) metric, which encodes the increase of utility that would be obtained if one were to learn the true underlying state, .
In hydrology, the log-normal distribution is used to analyze extreme values of such variables as monthly and annual maximum values of daily rainfall and river discharge volumes. [ 78 ] The image on the right, made with CumFreq , illustrates an example of fitting the log-normal distribution to ranked annually maximum one-day rainfalls showing ...
Expected value of sample information, the expected increase in utility that a decision-maker could obtain from gaining access to a sample of additional observations before making a decision Expected value of including uncertainty , the expected difference in the value of a decision based on a probabilistic analysis versus a decision based on an ...