Difference between revisions of "Expected value"

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The "expected value" or "expectation" is the (weighted) average of the possible outcomes of an event.  For example, when rolling a die, the expected value is (1+2+3+4+5+6)/6 = 3.5.
 
 
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The "expected value" or "expectation" is the average of all the possible outcomes of an event, weighted by their probability.  For example, when you roll a die, the expected value is (1+2+3+4+5+6)/6 = 3.5.
  
 
== See also ==
 
== See also ==

Revision as of 09:25, 29 August 2009

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The "expected value" or "expectation" is the average of all the possible outcomes of an event, weighted by their probability. For example, when you roll a die, the expected value is (1+2+3+4+5+6)/6 = 3.5.

See also