Frequently Asked Questions
What is expected value?
The probability-weighted average outcome of a random variable: E[X] = Σ x·P(x). It's what you'd expect on average if the experiment ran many times.
Do probabilities have to sum to 1?
Yes, for a valid distribution. This calculator normalizes if they don't but flags the issue.
Can E[X] be a value the random variable never takes?
Yes - a fair die never lands on 3.5, but that's its expected value. EV is a weighted average, not a possible outcome.
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Estimates for informational purposes only.
Important Disclaimer: Estimates for informational purposes only.
This calculator provides estimates for informational purposes only. Results are based on assumptions and may not reflect actual outcomes. Consult qualified professionals in relevant fields before making important decisions based on these results.