
Definition of Expected value
1. Noun. The sum of the values of a random variable divided by the number of values.
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
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 95percent 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 Coope (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 14 by Sas Institute (2006)
"For these tests, PROC FREQ outputs the rightsided /7value when the observed
value of the test statistic is greater than its expected value. ..."