expected value
Mean of outcomes
Expected value is a statistical concept representing the average outcome of a random variable over many trials, calculated by multiplying each possible outcome by its probability and summing the results.
In gambling, the expected value of a fair coin flip for $10 is zero—you'll win as often as you lose.
In decision-making, expected value helps weigh choices: The expected value of that investment is negative once you factor in the risks.
Average, or spiteful
- arithmetic meanSum over count
- central tendencyData's typical value
- population meanCentral tendency of all
- varianceSpread around the mean
standard deviation · distribution · normal distribution · bell curve · random variable · discrete · continuous · moment
Likelihood expressed numerically
- payoutMoney distributed to recipient
- house edgeCasino's statistical advantage
- returnGo back again
- stakeSharpened post or share
wager · bet · jackpot · winnings · losses · bankroll · casino · poker
Something that extends outward
- estimateInformed guess at quantity
- predictionForecast of coming events
- forecastPrediction of future conditions
- modelingSimulating or demonstrating form
simulation · time series · trend · econometrics · extrapolation · baseline · confidence interval · decision-making
Go back again
- yieldProduce or relinquish
- portfolioCollected works or assets
- discountedReduced in price
- dividendCorporate profit share
capital gains · asset allocation · diversification · upside · downside · payoff · hurdle rate · IRR
mean
Average, or spiteful
- arithmetic meanSum over count
- central tendencyData's typical value
- population meanCentral tendency of all
variance · standard deviation · distribution · normal distribution · bell curve · random variable · discrete · continuous · moment · parameter
odds
Likelihood expressed numerically
- payoutMoney distributed to recipient
- house edgeCasino's statistical advantage
- returnGo back again
stake · wager · bet · jackpot · winnings · losses · bankroll · casino · poker · blackjack
projection
Something that extends outward
- estimateInformed guess at quantity
- predictionForecast of coming events
- forecastPrediction of future conditions
modeling · simulation · time series · trend · econometrics · extrapolation · baseline · confidence interval · decision-making · planning
return
Go back again
- yieldProduce or relinquish
- portfolioCollected works or assets
- discountedReduced in price
dividend · capital gains · asset allocation · diversification · upside · downside · payoff · hurdle rate · IRR · valuation
- economicssupply and demand, inflation, GDP, GNP, gross domestic product
- financebank, CFO, banks, controller, finance
- probabilityprobability, chance, random, randomness, odds
- bettingbet, ante, wager, odds, stake
- statisticsmean, median, mode, variance, standard deviation
- averagesmean, median, mode, average, arithmetic mean
expected valuemode
Way or method
median · variance · standard deviation · outlier · geometric mean
value, expect, expected, valuable, unexpected, expecting, expectation, expectant, unexpectedly