Definitions for expected value
ex·pect·ed val·ue

Princeton's WordNetRate this definition:0.0 / 0 votes

1. arithmetic mean, first moment, expectation, expected valuenoun

   the sum of the values of a random variable divided by the number of values

WiktionaryRate this definition:0.0 / 0 votes

1. expected valuenoun

   Of a discrete random variable, the sum of the probability of each possible outcome of the experiment multiplied by the outcome value (or payoff).

WikipediaRate this definition:0.0 / 0 votes

1. Expected value

   In probability theory, the expected value (also called expectation, expectancy, mathematical expectation, mean, average, or first moment) is a generalization of the weighted average. Informally, the expected value is the arithmetic mean of a large number of independently selected outcomes of a random variable. The expected value of a random variable with a finite number of outcomes is a weighted average of all possible outcomes. In the case of a continuum of possible outcomes, the expectation is defined by integration. In the axiomatic foundation for probability provided by measure theory, the expectation is given by Lebesgue integration. The expected value of a random variable X is often denoted by E(X), E[X], or EX, with E also often stylized as E or E . {\displaystyle \mathbb {E} .}

ChatGPTRate this definition:0.0 / 0 votes

1. expected value

   The expected value, also known as the mean or average, is a fundamental concept in probability theory and statistics that reflects the average result of a series of independent experiments. It is calculated by multiplying each possible outcome by its probability, and summing these results. The expected value provides a measure of the central tendency of a random variable.

WikidataRate this definition:0.0 / 0 votes

1. Expected value

   In probability theory, the expected value refers, intuitively, to the value of a random variable one would "expect" to find if one could repeat the random variable process an infinite number of times and take the average of the values obtained. More formally, the expected value is a weighted average of all possible values. In other words, each possible value the random variable can assume is multiplied by its assigned weight, and the resulting products are then added together to find the expected value. The weights used in computing this average are the probabilities in the case of a discrete random variable, or the values of a probability density function in the case of a continuous random variable. From a rigorous theoretical standpoint, the expected value of a continuous variable is the integral of the random variable with respect to its probability measure. Since probability can never be negative, one can intuitively understand this as the area under the curve of the graph of the values of a random variable multiplied the probability of that value. Thus, for a continuous random variable the expected value is the limit of the weighted sum, i.e. the integral.

Matched Categories

1. • Mean
   • Statistics

How to pronounce expected value?

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How to say expected value in sign language?

Numerology

1. Chaldean Numerology

   The numerical value of expected value in Chaldean Numerology is: 6

2. Pythagorean Numerology

   The numerical value of expected value in Pythagorean Numerology is: 8

References

1. ^ Princeton's WordNet
   http://wordnetweb.princeton.edu/perl/webwn?s=expected value
2. ^ Wiktionary
   https://en.wiktionary.org/wiki/Expected_Value
3. ^ Wikipedia
   https://en.wikipedia.org/wiki/Expected_Value
4. ^ ChatGPT
   https://chat.openai.com
5. ^ Wikidata
   https://www.wikidata.org/w/index.php?search=expected value