expected value Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “expected value” in the English Dictionary

"expected value" in Business English

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expected valuenoun [U]

uk   us  
ECONOMICS, FINANCE the probable ​value of something, ​calculated as the ​total of all possible ​valuesmultiplied by the degree of possibility that each will ​happen: In a ​lottery, ​people are ​willing to ​pay far more than the expected ​value of their winnings for the ​remote chance that they might ​hit the ​jackpot.
(Definition of expected value from the Cambridge Business English Dictionary © Cambridge University Press)
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