Comparing insurance with expected value | Probability and Statistics | Khan Academy
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https://www.khanacademy.org/math/probability/random-variables-topic/expected-value/e/making-decisions-with-expected-values?utm_source=YT&utm_medium=Desc&utm_campaign=ProbabilityandStatistics
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https://www.khanacademy.org/math/probability/random-variables-topic/expected-value/v/expected-value-wager?utm_source=YT&utm_medium=Desc&utm_campaign=ProbabilityandStatistics
Probability and statistics on Khan Academy: We dare you to go through a day in which you never consider or use probability. Did you check the weather forecast? Busted! Did you decide to go through the drive through lane vs walk in? Busted again! We are constantly creating hypotheses, making predictions, testing, and analyzing. Our lives are full of probabilities! Statistics is related to probability because much of the data we use when determining probable outcomes comes from our understanding of statistics. In these tutorials, we will cover a range of topics, some which include: independent events, dependent probability, combinatorics, hypothesis testing, descriptive statistics, random variables, probability distributions, regression, and inferential statistics. So buckle up and hop on for a wild ride. We bet you're going to be challenged AND love it!
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