How To Calculate Expected Value

This video explains how to calculate the expected value of winning a game. it also explains how to calculate the expected value of a company manufacturing a laptop.

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[kylekuhling]

You are literally my saviour. Time and time again. For different classes. Different Levels. Thank you.

[davelovell]

For those also confused about if it should be $400, I think he must have intended to say "If she wins, she gets a $500 prize and they cancel her $100 cost of playing

[mayetbonquin]

I'm not skipping your ads and I subscribed too, to show my gratitude to you! Thank God you exist!

[rajamoorthy]

Beautiful explanation. No book explains the concept of Expected value the way you did in a simple and elegant way. Thanks

[robertowisconetti]

Is there something this man doesnt know. Organic chem tutor is certainly the fking polymath of our generation

[Anomins]

Would it make sense to use $400 for winnings considering it costs $100 to play? If she wins she only takes home $400. I really enjoy your videos btw!

[davidadewumi]

It's just amazing how versatile you are

[johnvamvas]

Thank you for being the reason I've passed so many classes that were challenging for me.

[claudiasorgi]

I'm an italian student struggling with a math exam, I'm so thankful, for real God bless you and your work💪

[bibekanandabhattacharjee]

I was struggling to understand this concept even after so many tries here and there but this video cleared by concepts. Thanks you very much @The Organic Chemistry Tutor

[katarinahledejelen]

Hey, this is just a warning but the problem has an odd wording and would (in my opinion) have to be + 400 and - 100 for the two outcomes. Because if you stake 100 $ and win 500 then the net benefit is 400 $ and not 500. This also makes sense because playing the game and losing, the net loss is 100, so the net gain should also account for that. It is just the wording of the problem, wonderful video tho

[richardadamwais]

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[erikmachado]

And yet again I can rely on my GOAT. This GOAT has taught me more than my entire time at college.

[georgesadler]

MR. Organic Chemistry Tutor, this is an excellent explanation of How to Calculate Expected Value in Mathematics.

[mariaangeliecacay]

this is a very clear explanation of how to compute expected value. so the only key is that it's either win or loss. in this video there's only three key being used. outcomes, value and probability... I never understood the video that my math prof. provided us for the lesson and let alone the textbook that I had so I have to watch video and I'm glad I found this one.. it was very helpful and easy to understand... I got A plus on my quiz. thanks to this video.

[JacobGravesen]

And now I'm sitting here wondering why I thought it was so complicated.

Thanks for making it really understandable man!

[KeyserTheRedBeard]

exceptional content The Organic Chemistry Tutor. I crushed that thumbs up on your video. Continue to keep up the amazing work.

[MathemaTeach]

I just taught this in my Geometry Class where we used circle (like a spinner) to find the expected value. 👍

[dalisabe]

If she plays 20 games and her expected value for wining on each game she plays is $20, then she wins $400, but she doesn’t play for free—-she pays a $100 every time she plays. So in that case, she appears to have won $400 but also lost $2000! Did she really win? Unless of course, the cost of playing is factored into the calculation of the expected value. In such case, she could indeed win $400 in theory. This problem needs further clarification.

As for the laptop scenario, this must be a horrible business. The company margin of profit is too low. If the average salary of a worker is $2, 500 a month, it takes the company manufacturing more than a 100 laptops to pay only one of its employees! Anyway, that was a side note that has nothing to do with the subject. The expected value though should be described as to represent not just the winning scenario, but also the losing scenario. Both scenarios are called the expected value. Great job!

[edutechab]

Brilliant explanation. Straight to the point