The two sides of a fair coin are labelled as $0$ to $1$. The coin is tossed two times independently. Let $M$ and $N$ denote the labels corresponding to the outcomes of those tosses. For a random variable $X$, defined as $X = \text{min}(M, N)$, the expected value $E(X)$ (rounded off to two decimal places) is ___________.

If X be a random variable with a finite number of outcomes x1, x2, x3 .... occurring with probabilities p1, p2, p3....... respectively, the expectation of X is defined as: