expected value(redirected from Mathematical expectancy)
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1. A quantity expressing a typical or average value of a random variable.
2. The sum (for discrete variables) or integral (for continuous variables) of the product of a random variable with its probability density function, over its range of values.
(Statistics) statistics the sum or integral of all possible values of a random variable, or any given function of it, multiplied by the respective probabilities of the values of the variable. Symbol: E(X). E(X) is the mean of the distribution; E(X–c) = E(X)–c where c is a constant. Also called: mathematical expectation
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|Noun||1.||expected value - the sum of the values of a random variable divided by the number of values|
statistics - a branch of applied mathematics concerned with the collection and interpretation of quantitative data and the use of probability theory to estimate population parameters