# Expected value computation

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 for a Discrete Random Variable. E(X)=\sum x_i p_i. x_i= value of the i th outcome p_i = probability of the i th outcome. According to this formula. Find expected value based on calculated probabilities. Here's a question i can't figure out: Expected value EV is a concept employed in statistics to help decide how beneficial or harmful an action might be. Expected Value Discrete Random Variable given a formula, f x. For continuous variable situations, integrals must be used. Expected values for binomial random variables i.