Probability theory
Expected value of two outcomes
Expected value of two outcomes is a statistical property of events or a data set.
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E[X]=px₁+(1−p)x₂
- 01Given
- 02Calculation
- 03Answer
What it means
Expected value of two outcomes is a statistical property of events or a data set.
How it works and where it is used
Use this calculation for estimating the mean and spread of random variables in statistics and risk management.