Final answer:
The expected value of a discrete random variable predicts the average outcome of a statistical experiment that has been repeated many times.
Step-by-step explanation:
The expected value of a discrete random variable X, also known as the mean or long-term average, is represented by E(X) or µ. It predicts the average outcome of a statistical experiment that has been repeated many times. The equation for finding the expected value of X is E(X) = Σ xP(x), where x is each value of the random variable and P(x) is the probability of that value.
The expected value can also be understood as the value you would expect to get in the long term if you repeat the experiment multiple times.
For example, if X represents the number of heads you get when tossing three fair coins, the expected value of X is the average number of heads you would expect to get for every three tosses.