Expected Value for Discrete Events
Expected Value
Expected value for discrete events is the summation of outcome and the probability of that outcome.
Formula of Expected Value (Discrete Events)
For a Discrete Random Variable; continuous analog is Expected Value for Continuous Events. See Expected Value.
For example, lets say, the probability of Argentina wins is 90% and France wins is 10%.
And if Argentina wins I get $1000 and if France wins I have to give $2000.
Then my Expected win will be,