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How to estimate the expected value of µ?
The average value in the long run of a variable is the expected value of the same. In other words, it is the mean of the sampled distribution of the statistical data. If the presumed value of the data is the parameter the statistic is approximating, the statistical data is an unbiased judgment of the parameter. Expected values are denoted by “E” and thus E[X] is said to be the expected value of X which is equals to μ where μ is the mean value.
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