Still probability. Didn’t get started until 9:20 today.The expected value of an experiment is the average of the results of many experiments. It is the weighted average of the possible outcomes, weighted by probability of occurrence. The expected value is not necessarily a value that will actually appear in the experiment as a possible answer.
This is useful for determining the expected payoff of a game.
Expected value is equal to the sum of ( the payoff of each possible outcome * the probability of that outcome ).