# Calculate the expected value

Calculators > 4/20/15 We are experiencing some issues with the site calculator below. As a temporary fix, please use the above calculator! Input the number. This Expected Value calculator calculates the expected value, or the mean in advance, of a number set or group of numbers. In probability theory, the expected value of a random variable, intuitively, is the long-run .. This is because an expected value calculation must not depend on the order in which the possible outcomes are presented, whereas in a conditionally.
From Wikipedia, the free encyclopedia. Science, Tech, Math Humanities Arts, Music, Recreation Resources About Us Advertise Privacy Policy Careers Contact Terms of Use. A very important application of the expectation value is in the field of quantum mechanics. I see how they put the tables together thats not hard its just trying to figure out where the information goes. The principle is that the value of a future gain should be directly proportional to the chance of getting it. Term life insurance and death probability. This blog really helped me figure out probability charts. If you could let me know what your inputs are I will see if I can troubleshoot. In a situation like the stock market, professional analysts spend their entire careers trying to determine the likelihood that any given stock will go up or down on any given day. In this case, the values are headed towards 2, so that is your EV. In some cases, you may need to assign a value to some or all possible outcomes. Probability - 1 Variable Lesson 4: The expected value of this scenario is:.

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