Expectations and Moments of Random Variables

Ron C. Mittelhammer
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Ron C. Mittelhammer: Washington State University, School of Economic Sciences

Chapter 3 in Mathematical Statistics for Economics and Business, 2013, pp 111-174 from Springer

Abstract: Abstract The definition of the expectation of a random variable can be motivated both by the concept of a weighted average and through the use of the physics concept of center of gravity, or the balancing point of a distribution of weights. We first examine the case of a discrete random variable and look at a problem involving the balancing-point concept.

Keywords: Probability Density Function; Conditional Expectation; Sweet Cherry; Moment Generate Function; Joint Moment (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-1-4614-5022-1_3

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DOI: 10.1007/978-1-4614-5022-1_3

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