Mean calculator The Expected Value (EV) is the Predicted Value for using at any point in the future. This value is also known as expectation, the average, the mean or the first moment. Expected value calculator is an online tool you'll find easily. Expected value of random variable calculator will compute your values and show accurate results.
Formula Expected Value Calculator uses
To calculate expected value, with expected value formula calculator, one must multiply the value of the variable by the probability of that value is occurring. For example, five players playing spin the bottle. Once you spin the bottle, it has an equal one-fifth chance to stop at first, Second, third, fourth or fifth player.
Expectation calculator uses this expected value formula
\( EV = \sum P(X_i) \cdot X_i \)
How to Find the Expected Value Calculator?
This expected value formula calculator finds the expected value of a set of numbers or a number that is based on the probability of that number or numbers occurring.
Step 1: Enter all known values of Probability of x P(x) and Value of x in blank shaded boxes.
Step 2: Enter all values numerically and separate them by commas.
Step 3: Click the "Calculate" button and the results will represent the expected value.
Advantages of Expected Value Calculator
Using expected value calculator probability distribution has many advantages. Expected value probability calculator
- Measures Center Of The Probability Distribution
- Measures Long Term Investment Of Variable
- Reduces Information To One Possibility /Answer
- Allows Us To Anticipate Future Outcomes