Sum of its associated probability * All possible outcomes The formula used to find the expected value for a number or set of numbers is defined as : It is easy to learn to find the expected value. If you turn the bottle an infinite number of times, you will see that the average value equals 3.0. Provide this information, the expectation calculator is very simple. Random Variable gives its weighted average. Once you spin the bottle, it has an equal one-fifth chance to stop at first, Second, third, fourth or fifth player.Įxpectation calculator uses this expected value formula For example, five players playing spin the bottle. To calculate expected value, with expected value formula calculator, one must multiply the value of the variable by the probability of that value is occurring. Expected value of random variable calculator will compute your values and show accurate results.īy calculating expected value, users can easily choose the scenarios to get their desired results. Expected value calculator is an online tool you'll find easily. This value is also known as expectation, the average, the mean or the first moment.

The Expected Value (EV) is the Predicted Value for using at any point in the future.