One of the mysteries of the English language finally explained.
A predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.
- ‘The premium will represent the expected value of these losses plus a small profit.’
- ‘The fact that the problem is stochastic means that the airline needs to work with expected values and probability distributions, which makes the optimisation harder to solve.’
- ‘Now, it is well known in probability theory that the expected value of a uniformly distributed variable on a finite interval is the center of that interval.’
- ‘Each measurement series was then standardized by dividing the observed ring width values by the expected values, given the exponential or linear function.’
- ‘The prediction isn't nearly as accurate, as seen in the plot of differences between the real and expected values.’
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