How different is a mean value different from expected value?
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Answer / Rakesh Kumar Shriwastava
The mean value and expected value are similar in that they both represent some sort of average, but they can be slightly different. The mean is the arithmetic average calculated by summing all values and dividing by the number of observations. The expected value, on the other hand, is a theoretical average often used in probability theory and may not always equal the mean due to factors such as skewness or outliers.
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