What is the Expected Value Calculator?

The Expected Value Calculator is a tool that helps users determine the average outcome of a random experiment based on all possible outcomes and their probabilities. By entering the outcomes and their corresponding probabilities, the calculator computes the expected value, E[X], which represents the long-term average if the experiment is repeated many times. This is useful for students, teachers, and anyone working with probability, statistics, games of chance, or decision-making under uncertainty.

How to Use:

1. Enter Outcomes: Input all possible outcomes separated by commas (e.g., 1, 2, 3, 4).
2. Enter Corresponding Probabilities: Input the probabilities for each outcome, also separated by commas. Ensure all probabilities are between 0 and 1 and their sum equals 1.
3. Click “Calculate”: The calculator multiplies each outcome by its probability and sums the results to compute the expected value.
4. Review Result: The output displays all outcomes, probabilities, the calculated expected value E[X], and a clear interpretation to understand the meaning.