This Expected Value calculator calculates the expected value, or the mean in by the probability of that value occurring, we will have calculated the expected. Definition of expected value & calculating by hand and in Excel. Includes video. Find an expected value for a discrete random variable. This video provides an example of finding and interpreting the expected value and standard deviation using. The mean is the average. Using whatever chart or table you have created to this point, add up the products, and the result will be the expected value for the problem. Neither gain nor lose 4. You need to read the statistical calculation of the EV and make sense of it in real world terms, according to the problem. About MathWorld Contribute to MathWorld Send a Message to the Team. Expected value for a discrete random variable. Home Articles Projects Programming Calculators Contact.
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