In probability theory, the expected value of a random variable, intuitively, is the long-run .. This is because an expected value calculation must not depend on the order in which the possible outcomes are presented, whereas in a conditionally. For the expected value, you need to evaluate the integral ∫40yf(y)dy=∫y3(4 −y)64dy. How to Calculate an Expected Value. Expected value (EV) is a concept employed in statistics to help decide how beneficial or harmful an action might be.
Expected value computation Video