Expected Value (1) - Expected Value Expected Value Average expectation per game if the game is played many times Can be used to evaluate and compare

Expected Value (1) - Expected Value Expected Value Average...

  • Middle Creek High
  • HISTORY 101
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  • mnhodges
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Expected Value
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ExampleA die is rolled and you receive $1 for each point that shows. What is your expectation?To calculate the expected value…What is the probability for each face of the die?What is the payoff for each face of the die?
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Solution What is the probability for each face of the die?
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