Discover the mean of a probability distribution, also known as the expected value, using our user-friendly online calculator. This tool helps you quickly determine the long-run average outcome of a random variable, essential for statistical analysis and decision-making.
Formula:
The mean (expected value) of a discrete probability distribution is calculated as the sum of each outcome multiplied by its probability:
μ = E(X) = Σ [x × P(x)]
Where:
x = A specific outcome or value of the random variable
P(x) = The probability of that specific outcome x occurring