Expected value gives us the mean or long-term average number of success we can expect over time if we repeat a process over and over. For example, how much money can someone expect to win on average for each lottery ticket they buy?
4608_Law_of_large_numbers.html
4607_Comparing_insurance_with_expected_value.html
4604_Getting_data_from_expected_value.html
4603_Term_life_insurance_and_death_probability.html
All video content by Khan Academy is under their license: CC by NC SA
Website created using Khan Academy Static Downloader