The expected value

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    measures the value of the expected outcome with the highest assigned probability.
     measures the probability weighted average payoff or value that is expected from all possible outcomes.
     measures the sum of the payoffs or values expected from all possible outcomes.
     measures the probability weighted average of the expected values for the possible outcomes adjusted to the present value.
asked Jun 2, 2013 in Economics by anonymous
    

1 Answer

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measures the probability weighted average payoff or value that is expected from all possible outcomes.
answered Jun 3, 2013 by Xyz ~Expert~ (3,650 points)

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