expected value
/ɪkˌspektɪd ˈvæljuː/
the long-run average value of a random variable
expected value in a sentence
“The expected value of a fair die roll is 3.5.”
Origin of expected value
From expect (Latin exspectare to look out for) + value
Related Words
variance
a measure of how spread out a distribution is
standard deviation
the square root of variance; a measure of dispersion
distribution
a function showing all possible values and their probabilities
independent
events where one does not affect the probability of another
conditional probability
the probability of an event given that another has occurred
Bayes' theorem
a formula for updating probabilities based on new evidence