Statistics Calculators

Expected Value Calculator

Calculate the expected value of a discrete random variable from a set of outcomes and their probabilities.

Expected value —

Total probability (should be 100%) —

About the Expected Value Calculator

Expected value is the long-run average outcome you'd expect if a random process were repeated many times, calculated by multiplying each possible outcome by its probability and summing the results.

Formula: E(X) = ∑ [xⁱ × P(xⁱ)]

Enter up to three possible outcomes and their probabilities (as percentages that should sum to 100%). Expected value is central to decision-making under uncertainty, insurance pricing and gambling analysis.