Definition of Expected value

1. Noun. The sum of the values of a random variable divided by the number of values.

Exact synonyms: Arithmetic Mean, Expectation, First Moment
Category relationships: Statistics
Generic synonyms: Mean, Mean Value

Definition of Expected value

1. Noun. (probability theory) Of a discrete random variable, the sum of the probability of each possible outcome of the experiment multiplied by the outcome value (or payoff). ¹

¹ Source: wiktionary.com

Expected Value Pictures

Click the following link to bring up a new window with an automated collection of images related to the term: Expected Value Images

Lexicographical Neighbors of Expected Value

 expectancesexpectanciesexpectancyexpectantexpectantlyexpectantsexpectationexpectation neurosisexpectation of lifeexpectational expectationsexpectativeexpectative graceexpectedexpected date of confinementexpected value (current term)expectedlyexpectednessexpectednessesexpecter expectersexpectestexpectethexpectingexpectinglyexpectiveexpectorantexpectorantsexpectorateexpectorated

Literary usage of Expected value

Below you will find example usage of this term as found in modern and/or classical literature:

1. Societal Value of Geologic Maps by Richard L. Bernknopf (1994)
"R represents a regulatory standard. gk denotes the expected value of the ... 2<j is the 95-percent confidence level about the expected value for the ..."

2. The Law of Contracts by Samuel Williston, Clarence Martin Lewis (1920)
"expected value of performance fortuitously destroyed; Coronation cases. A step still further than that referred to in the previous two sections has been ..."

3. Advances in Risk Management of Government Debt by H. J. Blommestein (2005)
"The expected value thus expresses a risk neutral valuation of the guarantee. ... The market value of a guarantee thus exceeds the expected value. ..."

4. The Mathematical Theory of Probabilities and Its Application to Frequency by Arne Fisher (1922)
"Some writers use also the term probable value instead of expected value. In other words the expected value of a variable quantity, a, which may assume any ..."

5. Innovative People: Mobility of Skilled Personnel in National Innovation Systems edited by Organisation for Economic Co-ope (2001)
"To show this in a simple algebraic form, the expected value of an ... E, is the expected value of human capital H in the best foreign labour market, ..."

6. The Demand for Public Storage of Wheat in Pakistan by Thomas C. Pinckney (1989)
"The expected value next year is a weighted average of the possible uses of the ... The expected value today for exporting next year is [E(XP, +,) - STCH]/D, ..."

7. Base SAS(R) 9.1.3 Procedures Guide, Second Edition, Volumes 1-4 by Sas Institute (2006)
"For these tests, PROC FREQ outputs the right-sided /7-value when the observed value of the test statistic is greater than its expected value. ..."