Expected Value (E[X]): The expected value, or mean, of a random variable X is the weighted average of all possible values that X can take on, where the weights are the probabilities of each value occurring.
Standard Deviation (σ): The standard deviation is the square root of the variance, and it represents the average amount that the values of a random variable X deviate from the expected value of X.
Probability Distribution: A probability distribution describes the likelihood of the different possible values that a random variable can take on, and it is used to calculate the expected value and variance of the random variable.