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A predicted value of a variable, calculated as the sum of all possible values each multiplied by the probability of its occurrence.
‘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.’
‘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.’
‘Each measurement series was then standardized by dividing the observed ring width values by the expected values, given the exponential or linear function.’
‘The premium will represent the expected value of these losses plus a small profit.’
‘The prediction isn't nearly as accurate, as seen in the plot of differences between the real and expected values.’