What is the meaning of Expected value?

Expected value is the weighted average of possible outcomes, with the weights being the probabilities of occurrence.

Barry Goldsmith
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APABarry Goldsmith. (2010). expected value. Retrieved September 21, 2026, from http://smartdefine.org/expected_value/definitions/1153453
ChicagoBarry Goldsmith. 2010. "expected value" http://smartdefine.org/expected_value/definitions/1153453 (accessed September 21, 2026).
HarvardBarry Goldsmith 2010, expected value, Smart Define, viewed 21 September, 2026, <http://smartdefine.org/expected_value/definitions/1153453>.
MLABarry Goldsmith. "expected value" 21 October 2010. Web. 21 September 2026. <http://smartdefine.org/expected_value/definitions/1153453>
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