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 xƒ (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).
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So, its expected value [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII] is also equal to [??]([mu], ..., [mu]) with probability 1, and thus, the equality that described that this estimate is unbiased takes the form
From unbiased numerical estimates to unbiased interval estimates
For winter wheat farmers with moderate risk aversion in Hyde County, S.D., we estimate that the expected value of claims payments is $17.23 per acre under the coinsurance program above, but only $17.22 under the indifferent deductible program with an 86% threshold, so the risk premium is $0.01 per acre.
Deductibles vs. coinsurance in shallow-loss crop insurance
Jones has lost an asset, the expected value of which is $100, and if the government takes that investment, it has injured Jones.
Standing's expected value
The membership function in set [EVI.sub.j], [u.sub.EVIj]([b.sub.Lj]), represents the degree to which [b.sub.Lj] approximates the maximum possible expected value ([b.sub.max]) and, thus, it reflects the possible expected values, [b.sub.Lj].
A general framework for accounting and audit decision making under ambiguity
, [x.sub.n] are presumed to have normal sampling pdfs with unknown but equal expected values and variance-covariance matrix [[tau].sup.2] x Diag [[[sigma].sub.1.sup.2], ...
Assessing differences between results determined according to the Guide to the Expression of Uncertainty in Measurement
Similar to the UP lottery, the effects of changes in P* on individual expected values will depend upon the elasticity of entry.
Underpricing in public lotteries: a critique of user-pay and all-pay tariffs
This decision reflects the "risk-neutral" nature of using expected values, in that the technique weighs up the balance of the probabilities.
Management accounting--decision management: Ian Janes offers his guide to a problem area for P2 candidates: the approaches that managers can take when faced with "risky" decisions
negative expected values (such as Policy B in Example 3 above) prove to
Learning through policy variation
Expected values refer to events that have not yet transpired.
Probability adjusted financial impact analysis: Part 1
"Expected values" are the account values that might be anticipated, based on the past performance of a company.
A helping hand: using software to improve analytical procedures in audits & reviews
None of the methods allows for a rigorous evaluation of variation from expected values or leaves much room for negotiation where there is more than one interested party.
Estimating environmental liabilities: one price does not fit all
Each plan summarizes the disease process, medical care that may be prescribed, drug actions, diagnostic procedures, laboratory tests with expected values, and outcome criteria.
Delmar's Geriatric Nursing Care Plans, 3d ed. (CD-ROM included)

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