Expected Monetary Value Calculator
Expected Monetary Value Calculator | ||
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Parameter | Description | Example Value |
Possible Outcome | The value of a possible outcome. | $1,000 |
Probability of Outcome | The probability of the outcome occurring. | 0.5 |
Expected Monetary Value (EMV) | The weighted average of all possible outcomes. Formula: Possible Outcome * Probability of Outcome |
$500 |