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5 results for “expected value”

Formulae (5)

E[X] = \sum_i x_i\,p_i

The long-run average value of a random variable.

E[X] = \sum_{i} x_i\, p_i

Long-run average value of a random variable.

E[X] = \sum p_i x_i

Probability-weighted average of possible claim amounts.

EV = \sum_i p_i x_i

Probability-weighted average outcome of a decision.

EV = \sum_{k=1}^{\infty} \tfrac{1}{2^k} 2^{k-1}

A game with infinite expected value yet little real worth.