Expected value
The average outcome of a choice if you could repeat it many times: each possible result multiplied by how likely it is, then added together. It is a strong guide for repeated decisions and a weak one for single, irreversible choices.
The average outcome of a choice if you could repeat it many times: each possible result multiplied by how likely it is, then added together. It is a strong guide for repeated decisions and a weak one for single, irreversible choices.