Expected Value Calculator

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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

standard deviaton
  • 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