Lesson 8 of 20 · about 15 min
Expected value
Should you pay $4 to play a dice game? Expected value answers it, and it's literally a balance point. You'll balance a seesaw of probabilities, discover why casinos always win in the long run, and use the most useful shortcut in probability, linearity of expectation, to solve a puzzle that looks impossible.
🔓 Unlock this lesson
This lesson is part of the DoingCamp Pass. Members get every lesson in every course, with all the interactive visuals, coding exercises and challenges.
In this lesson you'll learn:
- Expected value E[X]
- Linearity of expectation
Free to try in F07 Probability & Statistics:
The first 3 lessons of every course are free, no account needed.