Definition of expected value in English:

Share this entry

expected value

noun

Mathematics
A predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.
Example sentences
  • The fact that the problem is stochastic means that the airline needs to work with expected values and probability distributions, which makes the optimisation harder to solve.
  • Now, it is well known in probability theory that the expected value of a uniformly distributed variable on a finite interval is the center of that interval.
  • The premium will represent the expected value of these losses plus a small profit.

For editors and proofreaders

Syllabification: ex·pect·ed val·ue

Share this entry
 

What do you find interesting about this word or phrase?

Comments that don't adhere to our Community Guidelines may be moderated or removed.