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Expected Value or Mean




 

The expected value or mean of a discrete distribution is the long-run average of occurrences. We must realize that any one trial using a discrete random variable yields only one outcome. However, if the process is repeated long enough, the average of the outcomes are most likely to approach a long-run average, expected value or mean value.


This expected value or mean is computed as follows:


The following video shows that the expected value of a random variable is similar to the population mean.





The following video will show the formula of expected value, and compute the expected value of a game.


The following video shows how to calculate the expected value of a binomial distributed random variable



 

Rotate to landscape screen format on a mobile phone or small tablet to use the Mathway widget, a free math problem solver that answers your questions with step-by-step explanations.


You can use the free Mathway widget below to practice Algebra or other math topics. Try the given examples, or type in your own problem and check your answer with the step-by-step explanations.


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