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How to use Expected Value Calculator with example?

Example :

Find out the expected value from the table given below :

x p(x)
10 0.4
11 0.2
12 0.2
13 0.1
14 0.1

Formula :

$$\text{EV}\;=\;\sum P(X_i)\;*\;X_i$$

Expected Value = 10(0.4) + 11(0.2) + 12(0.2) + 13(0.1) + 14(0.1)

Expected Value=4+2.2+2.4+1.3+1.4

$$\text{Expected Value}\;=\;11.3$$


Average user rating

5 / 5

Clay Terry
2021-Aug-25
Great info