The cost or the payoff is the other part of
expected value. One problem is the cost or payoff isn't always as obvious as in the case of a speeding ticket, and sometimes assigning a dollar value can be complicated.
Section III.A contends that footnote 5's substantial-risk standard corresponds to and should be informed by the probability concept of
expected value. Section III.B provides support for this expected-value standard through (1) using precedent, (2) drawing on probability principles, and (3) introducing practical considerations.
The cutoff hand for positive
expected value is 10-4 suited (10-handed), A-6 unsuited (8) and 7-5 suited (6).
Because the
expected value of a claim depends on both its
Thus, it is natural to define the
expected value E[a] of an interval-valued random variable a = [[a.bar], [bar.a]] component-wise, i.e., as an interval formed by the corresponding
expected values [MATHEMATICAL EXPRESSION NOT REPRODUCIBLE IN ASCII].
As with the risk premium differences estimated above, these values are economically insignificant, even when extended to policies with different
expected values of claims payments.
Because the
expected value of complying ($60) is less than the
To allow for the ambiguity in decision making, the objective of maximizing the
expected value is reformulated differently as a maximization of an index called
expected value index.
So for Pindyck, we have come full-circle back to
expected value cost-benefit analysis.
In the GUM, the measured value is regarded as the
expected value and the standard uncertainty is regarded as the standard deviation, both known values, of a state-of-knowledge probability distribution.
The company gave no indication of the
expected value of the further licence orders.
The football presenter has been shelling out pounds 25,000 a year for young George's place at the 400-year-old Charterhouse public school and he
expected value for money.
The audit office published a report yesterday saying most PFI hospitals had got the
expected value of money from their deals so far.
It is a platitude among decision theorists that agents should choose their actions so as to maximize
expected value. But exactly how to define
expected value is contentious.
It ranks each past and existing donor relationship (with alumni, friends, and parents from a database) based on
expected value and conducts analysis on major gift prospects to ultimately predict which ones will be the best.
