Question

fill in the blank.

the expected gain or loss of an experiment over the long run is called the ______ value.

the expected gain or loss of an experiment over the long run is called the value.

• fair
• median
• expected
• net

Explanation:

Identify the definition of expected value

The sentence defines the long-run average outcome of a random variable or experiment.

Match with the given options

The options are "fair", "median", "expected", and "net". The term "expected value" represents the long-run average gain or loss.

Answer:

The expected gain or loss of an experiment over the long run is called the <blank>expected</blank> value.