High Quality Content by WIKIPEDIA articles! In probability theory, Wald's equation is an important identity which simplifies the calculation of the expected value of the sum of a random number of random quantities. In its simplest form, it relates the expectation of a sum of randomly many i.i.d. random variables to the expected number of terms in the sum and the random variables' common expectation under the condition that the number of terms in the sum is independent of the summands.

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