When making choices, you may have a lot of options, and sometimes you might want to choose the option that will add the most value to your life. Through probability, we can not only find what we can expect to happen but with enough information, we can quantify our expectations about certain events. In this episode, we discuss the expected value and how it can help us weigh possible outcomes and what to expect in the long run.
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Chapters:
0:00 – Introduction
1:37 – Expected value
5:28 – Expected value formula
9:00 – Conclusion
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