# expected value

## Definitions

### Economics

- noun the future value of a certain course of action, weighted according to the probability that the course of action will actually occur. If the possible course of action produces income of £10,000 and has a 10 per cent chance of occurring, its expected value is 10 per cent of £10,000 or £1,000.

### Health Economics

- (written asThe weighted average of all possible values of a variable, where the weights are probabilities.
*Expected Value*)

### Business

- acronymEV