EXPECTED VALUE

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 Dictionary entry overview: What does expected value mean? 

• EXPECTED VALUE (noun)
  The noun EXPECTED VALUE has 1 sense:

1. the sum of the values of a random variable divided by the number of values

  Familiarity information: EXPECTED VALUE used as a noun is very rare.

 Dictionary entry details 

• EXPECTED VALUE (noun)

Sense 1

Meaning:

The sum of the values of a random variable divided by the number of values

Classified under:

Nouns denoting cognitive processes and contents

Synonyms:

arithmetic mean; expectation; expected value; first moment

Hypernyms ("expected value" is a kind of...):

mean; mean value (an average of n numbers computed by adding some function of the numbers and dividing by some function of n)

Domain category:

statistics (a branch of applied mathematics concerned with the collection and interpretation of quantitative data and the use of probability theory to estimate population parameters)