Definition of "expected value" []

• The sum of all possible values for a random variable, each value multiplied by its probability of occurrence. (noun)
• The integral of the probability density function and a continuous random variable over its range of values. (noun)

American Heritage(R) Dictionary of the English Language, Fifth Edition. Copyright (c) 2011 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.