The "expected value"expected value or "expectation"expectation is the (weighted) average of all the possible outcomes of an event, weightedweighed by their probability.probability. For example, when you roll a die, the expected value is (1+2+3+4+5+6)/6 = 3.5.
The "expected value" or "expectation" is the (weighted) average of all the possible outcomes of an event.event, weighted by their probability. For example, when rollingyou roll a die, the expected value is (1+2+3+4+5+6)/6 = 3.5.
The Expected value"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.
The Expected value 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.
The Expected value is the 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.
(Since a die doesn't even have a face that says 3.5, this illustrates that very often, the "expected value" isn't a value you actually expect.)