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What is the expected value?

Towards Data Science

Even if you are not aware of it, expected value is behind many frequently used concepts such as entropy and the mean squared error .For instance, entropy is the expected value of the information…

Expected Value of Random Variables -Explained Simply

Towards Data Science

The expected value of a random variable is the weighted average of all possible values of the variable. The weight here means the probability of the random variable taking a specific value. What is…

Finding Expected Values using Monte Carlo Simulation: An Introduction

Towards Data Science

If you’re someone who is interested in solving probability puzzles, there’s a good chance that you have come across some puzzles which require you to find the expected number of trials before you…

Probability Distribution

Towards Data Science

I’m a data scientist for a mobile application. As a data scientist, you will often draw a random sample from the population to conduct experiments or analyses. With the random sample, you make…

A Monte Carlo Experiment For Calculating The Expected Value Of A Full Dice Roll

Towards Data Science

This question is a frequent flyer in many interviews, the following is a programmatic approach to solve it using random sampling. The idea is, to run many experiments, in which you roll the dice…

Expectation and Variance From Zero to Mastery

Towards Data Science

Expectation and variance are one of the basic and yet important topics. It is essential for data scientists to deeply understand the subject in order to tackle statistical problems and understand…

Introducing Discrete Random Variable and Expected Value using NASA Data

Towards Data Science

NASA has published a compiled data on space-shuttle launches on its website. The data is tabulated to display a frequency distribution for the number of crew members on each shuttle mission from…

Decision Theory: Expected Utility and Risk Aversion

Level Up Coding

This article describes why there was a need to find the best utility function in decision-making. The article uses multiple examples to have a better understanding of the topics. Decision theory…

Compute the probability of your earnings with one line of code

Towards Data Science

If you are a freelancer, a retailer or simply an active writer on Medium, you can find a simple formula to better project your earning chances here below. The following discussion is based on the…

Expectations & Variance Relations

Towards Data Science

This article is going to be short and sweet. When it comes to technical knowledge in general, I’m a big proponent of having strong fundamentals and grounded understanding in the methods one is using…

Probability

Machine Learning Glossary

Probability Links Screenshots License Basic concepts in probability for machine learning. This cheatsheet is a 10-page reference in probability that covers a semester’s worth of introductory probabili...

Random Variables and Probability Distributions

Towards Data Science

Master the random variables and probability distributions and crack your next Data Science Interview with the third part of our Statistics Cheat Sheet series Photo by Naser Tamimi on Unsplash Random ...