# expected value

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## expected value

[ek′spek·təd ′val·yü]
(mathematics)
For a random variable x with probability density function ƒ(x), this is the integral from -∞ to ∞ of (x) dx. Also known as expectation.
For a random variable x on a probability space (Ω, P), the integral of x with respect to the probability measure P.
(systems engineering)
In decision theory, a measure of the value or utility expected to result from a given strategy, equal to the sum over states of nature of the product of the probability of the state times the consequence or outcome of the strategy in terms of some value or utility parameter. Abbreviated EV. Also known as expected utility (EU).
References in periodicals archive ?
(181) Thus, using expected value is consistent with "the essence of existing standing doctrine," (182) and its use as a standard for fear-based injury finds support in case law and legal scholarship.
Claims of comparatively moderate scope have an expected value above
For the expected value [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII], the corresponding lower and upper integrals are called lower and upper expected values, and denoted by [E.bar][a] and [bar.E][a].
Like the simple cost-benefit model (Equation 1), the expected value
The reformulated objective is equivalent to the maximization of the expected value because it results in the same optimal decisions.
, [x.sub.n]).sup.t] are said to be statistically consistent if they reasonably fit the normal consistency model which postulates that the joint n-variate sampling pdf of x is normal N(1[micro], D) with unknown expected value 1[micro] and variance-covariance matrix D = [[[sigma].sub.ij]].
For a given value of P*, equilibrium entry occurs such that zero expected value is attained by the lowest valued entrant.
The expected value of taking 100 cartons to market, therefore, is calculated as follows: (0.3 x 250) + (0.5 x 250) + (0.2 x 250) = 250 [pounds sterling].
that has high expected value in the current period but adds little to
He expected value buying in pivotals including Bank Muscat and National Bank of Oman.
The first inequality is a comparison of the expected value of a ratio to the ratio of the expected value, a problem that arises in pricing foreign exchange rates.
The expected value of the contract is approximately \$140 million dollars.

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