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Expected Value
Common Core: S.MD.2

Expected Value

Author: Ryan Backman

This lesson will explain expected value.

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Terms to Know
Expected Value

The long-term average value taken by the outcomes from a chance experiment. It does not need to be one of the possible outcomes.

Formulas to Know
Expected Value

mu subscript x space equals space E left parenthesis X right parenthesis space equals space sum from i equals 1 to n of x subscript i times p subscript i