Question

What is Expectation, Moments and variance with signification?

Answer 1

The expected values E(X), E(X2), E(X3), ..., and E(Xr) are called moments.

Answer 2

Answer:

Given a random variable, we often compute the expectation and variance, two important summary statistics. The expectation describes the average value and the variance describes the spread (amount of variability) around the expectation.

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