# Calculate expected value calculator

Click “ Calculate Expected Value.” for multiple probabilities 0. Expected Value: 0. Expected Value Calculator was last modified: April 22nd, by Andale. This video provides an example of finding and interpreting the expected value and standard deviation using. Calculating the Expected Value of an Calculating EV is a very useful tool in. April 22nd, by Andale. Tips For situations in which there are many outcomes, you can create a computer spreadsheet to calculate the expected value from the outcomes and their probabilities. The odds that you win the season pass are 1 out of The more problems I practice, the more it seems to click, though. Use your list of all possible outcomes, and multiply each value times the probability of that value occurring. Definition, Word Problems T-Distribution Non Normal Distribution Chi Square Design of Experiments Multivariate Analysis Sampling in Statistics: I too agree, sometimes the biggest challenge is to know where to plug in the numbers in the equation. Each possible outcome represents a portion of the total expected value for the problem or experiment that you are calculating. Expected Value Calculator Event 1: Community Dashboard Random Article About Us Categories Recent Changes. Note on the formula: Multiply your X values in Step 1 by the probabilities from step 2. A user does not have to use up all 10, just as many as he or she needs. If you make a chart, the math behind finding an expected value becomes clearer.