Expected Value Calculator
To get the result, fill out the calculator form and press the Calculate button.
What is the Expected Value?
Expected Value is a concept in probability and statistics that represents the average or long-term outcome of a random variable or a probabilistic event. It's a way to quantify what you can expect to happen on average in a given situation.
Expected Value Formula
The Expected Value (EV), also known as the mean or expectation
- E (X) denotes to Expected Value
- µx is the value of mean
- X is the outcome value
- P (X) is the probability of an outcome
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