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Moments are summaries of random variables' characteristics (e.g., location, scale). Use also for fractional moments.

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Expectation of the product of iid random variables

If we have iid random variables $X_1,X_2,...,X_N$ with $\mathbb{E}X_i=\mu$, is it true that $\mathbb{E}\prod X_i=\mu^N$? I had no doubt that this is true, until I tried it out with Python, using rando …
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