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The expected value of a random variable is a weighted average of all possible values a random variable can take on, with the weights equal to the probability of taking on that value.

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Calculate expected survival time for two stage survival

In a book about Biostatistics, I found this example to calculate expected value: Consider the following hypothetical example of a lung cancer study in which all patients start in phase 1, transition …
Tran Khanh's user avatar
4 votes

Provide an intuitive example of the linearity of expectation

Sticking to your example, here's an intuitive way to understand the linearity of expectation (at least to me): Consider the $i$th-consecutive pair in the sequence of 9 cards of two different colors, 4 …
Tran Khanh's user avatar