Expected value

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Expected value

The expected value or expectation is the (weighted) average of all the possible outcomes of an event, weighed by their probability. For example, when you roll a die, the expected value is (1+2+3+4+5+6)/6 = 3.5.

(Since a die doesn't even have a face that says 3.5, this illustrates that very often, the "expected value" isn't a value you actually expect.)

See also

• Probability
• Expected utility

External links

• A Technical Explanation of Technical Explanation

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