Statistics & Probability

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Expected Value Calculator.

Calculate this statistic instantly with validated formulas.

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Set your values

Results update as you type.

Result: Expected value: 1.500000

Result

Expected value: 1.500000

Use Cases

Analyze game outcomes

Determine the average result of a game or gamble by inputting possible outcomes and their probabilities.

Example: Enter values 10, -5 with probabilities 0.5, 0.5 to see the expected value of 2.5.

Evaluate business decisions

Assess the expected profit or loss from different scenarios to make informed choices.

Example: Input profit values and their likelihoods to estimate the average return.

Frequently Asked Questions

How do I use the Expected Value Calculator?
Enter your values and their corresponding probabilities in the provided fields. Values can be comma or space separated. The calculator will compute the expected value using the formula E(X) = Σ x_i * p_i.
What is the expected value in statistics?
The expected value is the long-run average of a random variable. It is calculated by multiplying each possible outcome by its probability and summing these products. It represents the mean of a probability distribution.
Can I use this calculator for continuous distributions?
This calculator is designed for discrete distributions where you can list individual outcomes and their probabilities. For continuous distributions, you would need integration, which is not supported here.

Tips & Common Mistakes

Tips

  • Ensure probabilities sum to 1 for a valid probability distribution.
  • Use consistent units for all values to get a meaningful expected value.
  • Double-check that you have entered the same number of values and probabilities.
  • For quick calculations, separate values with commas or spaces as indicated.

Common Mistakes to Avoid

  • Forgetting to include all possible outcomes, which skews the expected value.
  • Entering probabilities as percentages (e.g., 50%) instead of decimals (0.5).
  • Mismatching the order of values and probabilities, leading to incorrect pairing.

Last updated: August 13, 2026