Browse Teach Curate

Expected Value and Probability Distributions

Modelling an unknown quantity as a random variable with a distribution, and summarizing it by its expectation. Covers probability distributions over a parameter or function space, the expectation operator and its linearity, priors and beliefs about an unknown quantity, and optimizing an expected objective under uncertainty.

jeremy Video

Expected Value in Probability Theory: Calculating Winnings and Losses from Game Outcomes

The core principle defined is Expected Value in Probability Theory, a metric used to determine the long-term average outcome or profit per trial by weighting all possible outcomes with their respecti…