Expected Value

+**Expected Value**

+Expected value unveils the long-run average outcome of a random process. It is a weighted sum of all possible results, each by its [probability](/wiki/probability), offering insight into what one might expect over many trials. This fundamental concept is central to [decision theory](/wiki/decision_theory).

+## See also

+- [Random Variable](/wiki/random_variable)

+- [Variance](/wiki/variance)