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Expected Value

Calculate the long-term average outcome of a random variable with multiple possible values

Outcomes & Probabilities (Value: Probability)

100: 0.1 50: 0.3 0: 0.5 -20: 0.1

Example: "Outcome: Chance". Total probability should equal 1.0 (100%).

Expected Value (E[X])

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📈

Expected Value

Calculate the long-term average outcome of a random variable with multiple possible values

Outcomes & Probabilities (Value: Probability)

100: 0.1 50: 0.3 0: 0.5 -20: 0.1

Example: "Outcome: Chance". Total probability should equal 1.0 (100%).

Expected Value (E[X])

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