Finding the Expected Value of a Probability Distribution
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- Опубликовано: 22 авг 2024
- When given a probablity distribution, learn how to find the expected value. The expected value is also known as the mean of the probability distribution.
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Thanks this helped a lot test is in 8 minutes 😳
Thank you fr
This saved me from losing a lot of money, thanks a bunch ❤
what if i will buy 5 tickets?
Your expected loss would just be 5 times the expected value.
@@MathandStatsHelp Oh, i see. Thank you so much! :)
Can we find a positive expected gain??
Yes, you would just need to change the signs around for the x values. A loss to the person would be considered a gain to the company, and a gain to the person would be considered a loss to the company.
Is expected value and expected gain are same or different.
They are pretty much the same thing. Both are calculated the same way.
@@MathandStatsHelpDo I have to consider net profit only for every outcome while calculating expected value.
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