## Expected value in statistics

The expected value (or mean) of X, where X is a discrete random variable, is a weighted average of the possible values that X can take, each value being. In this video, I show the formula of expected value, and compute the expected value of a game. The final. Anticipated value for a given investment. In statistics and probability analysis, expected value is calculated by multiplying each of the possible outcomes by the. Welcome to STAT ! In this book he considered the problem of points and presented a solution based on the same principle as the solutions of Pascal and Fermat. Once you roll the die, it has an equal one-sixth chance of landing on one, two, three, four, five or six. Whitworth in , [11] who used a script E. Figure out the possible values for X. You need to read the statistical calculation of the EV and make sense of it in real world terms, according to the problem.

### Expected value in statistics - Hill

How to construct a probability distribution. Then the expectation of this random variable X is defined as. In statistics and probability analysis, the EV is calculated by multiplying each of the possible outcomes by the likelihood each outcome will occur, and summing all of those values. You might want to save your money! Computing expectations by conditioning".