Expected Value Calculator

This expected value calculator helps you to quickly and easily calculate the expected value (or mean) of a discrete random variable X. Enter all known values of X and P(X) into the form below and click the "Calculate" button to calculate the expected value of X. Click on the "Reset" to clear the results and enter new values.

Expected Value (EV) Calculator

 

This calculator uses the following basic formula:

E(X) = μX = x1P(x1) + x2P(x2) + ... + xnP(xn)

E(X) = μX =
n
x i * P(xi)
i = 1

Where:

E(X)  is the expected value of the random variable X ,

μX  is the mean of X ,

∑  is the summation symbol ,

P(xi)  is the probability of outcome xi ,

xi  is the i th outcome of the random variable X ,

n  is the number of possible outcomes ,

i  is a possible outcome of the random variable X.

 

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