Consider a single toss of a fair coin, and define X as the number of heads that

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Consider a single toss of a fair coin, and define X as the number of heads that come up on that toss. Then X can be 0 or 1, with a probability of 50 %.

The expected value of X is 1/2 . Can we “expect” to get 1/2 a head when we toss the coin? If not, how should we interpret the concept of the expected value?

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Statistics For Business And Financial Economics

ISBN: 9781461458975

3rd Edition

Authors: Cheng Few Lee , John C Lee , Alice C Lee

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