Expected Value

The expected value of a random outcome is the long-run average result if the process were repeated many times. It's calculated by multiplying each outcome's value by its probability, then adding the results:

E(X) = Σ(value × probability)

Calculate the expected value of a spin, or the expected net value of a game.

Continue exploring related topics:

• Theoretical Probability - Calculating Chance from Outcomes
• Probability Simulations
• Combined Probability Problems