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Probability

Expectation and spread

Describe the center and spread of a probability distribution and use them in decisions.

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Where this chapter sits in the course

Lessons

Chapter 8 of 11 · 7 short lessons · 28 min
  1. 1Expected value4 min
  2. 2Expected value in decisions4 min
  3. 3Variance4 min
  4. 4Standard deviation3 min
  5. 5Linearity of expectation3 min
  6. 6Variance of independent sums4 min
  7. 7Challenge: Expectation and spread6 min

What you'll learn

  • Calculate and interpret expected value and standard deviation
  • Compare choices using expected value
  • Calculate means and variances of sums under appropriate conditions

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