What is the formula to calculate expected value?
The basic expected value formula is the probability of an event multiplied by the amount of times the event happens: (P(x) * n).
How do you find the expected value step by step?
In statistics and probability analysis, the expected value is calculated by multiplying each of the possible outcomes by the likelihood each outcome will occur and then summing all of those values. By calculating expected values, investors can choose the scenario most likely to give the desired outcome.
How do you find the expected value of a data set?
To find the expected value, E(X), or mean μ of a discrete random variable X, simply multiply each value of the random variable by its probability and add the products. The formula is given as. E ( X ) = μ = ∑ x P ( x ) .
Where is Y1 on TI84?
Graph Y1. Press 2nd [calc] 2 to select zero. Note: If more than one graph is displayed press △ until the expression for Y1 appears at the top of the screen. Move the cursor to a point just to the left of a zero (or type in a number less than a zero) and press enter.
How do you find Y1 and Y2 on a graphing calculator?
The cursor will blink on a function and show the function name in the upper left corner of the screen. When it blinks on Y1, press ENTER & when it blinks on Y2, press ENTER.