Glossary · Phase 2 · Math, when you need it
Expected value
The long-run average of a random amount: each value times its chance, all added up.
Learn it properly
Mean, variance and spread · Expected value, variance and standard deviation. About 25 minutes.
Other terms from the same lesson
- mean: The average: add the values up and divide by how many there are.
- standard deviation: The typical distance of a value from the average. It is the square root of the variance.
- variance: How spread out values are around their average.