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What is Expected Value

Chapter 233
Encyclopedia of Business Analytics and Optimization
The average amount one would win (or lose) if a gamble is played an infinite number of times.
Published in Chapter:
Utility Functions and Risk Attitudes in Decision Analysis
Candice H. Huynh (University of California, Irvine, USA) and Wenting Pan (Saint Mary's College of California, USA)
Copyright: © 2014 |Pages: 14
DOI: 10.4018/978-1-4666-5202-6.ch233
Full Text Chapter Download: US $37.50 Add to Cart
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Chapter 2
Frequentist Probability
The average amount one expects to win.
Published in Chapter: Frequentist Probability; From: Examining an Operational Approach to Teaching Probability
Full Text Chapter Download: US $37.50 Add to Cart
Chapter 66
Decision Making in Intelligent Agents
Given a decision tree with r alternatives Ai for i = 1,…,r, the expression E(Ai) = where , j ? (1,…,m), denote probability variables and denote value variables, is the expected value of alternative Ai.
Published in Chapter: Decision Making in Intelligent Agents; From: Encyclopedia of Artificial Intelligence
Full Text Chapter Download: US $37.50 Add to Cart
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