What does "expected value" mean?

The weighted average of outcome values, using probability as the weighting function.

How do you pronounce "expected value"?

Pronounced //ɪkˈspɛkt.ɪd ˈval.juː//.

Common synonyms include: arithmetic mean, average case, expectation, expectations, expected outcome, first moment.

/ɪkˈspɛkt.ɪd ˈval.juː/ noun

noun ·Rare ·Advanced level

Noun

1
The weighted average of outcome values, using probability as the weighting function. countable, uncountable
2
the sum of the values of a random variable divided by the number of values wordnet