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 the 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.1
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© 1996 Springer-Verlag New York Inc.
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Mittelhammer, R.C. (1996). Mathematical Expectation and Moments. In: Mathematical Statistics for Economics and Business. Springer, New York, NY. https://doi.org/10.1007/978-1-4612-3988-8_3
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DOI: https://doi.org/10.1007/978-1-4612-3988-8_3
Publisher Name: Springer, New York, NY
Print ISBN: 978-1-4612-8461-1
Online ISBN: 978-1-4612-3988-8
eBook Packages: Springer Book Archive