Expected Value

Expected value is like the "spirit" of a game. It doesn't tell you exactly what will happen this time, but it tells you what will happen on average if you play forever. If a game has an expected value of five dollars, you might win ten or zero today, but the "truth" of the game is five dollars. It helps us look past the tiny wins and losses of today to see the big picture. Trust that as long as you're doing the right things, the average of your life will turn out okay.

While the immediate outcome of a virtuous act might be invisible, its long-term Expected Value contributes to the positive total of the universe.

E[X] is the summation of all possible outcomes weighted by their probabilities — the center of mass of a probability distribution. In decision theory, it maximizes utility under uncertainty. Expected Value is the Dharma or Intrinsic Worth of an action. The immediate outcome of a virtuous act may be invisible, but its long-term expected value contributes to the positive total of the universe.

SOUND: The tonic or home note of a scale that the music always wants to return to.

SMELL: The base note of a perfume that lingers long after the top notes are gone.

TASTE: The aftertaste that defines the quality of a meal.

TOUCH: The feeling of a steady, rhythmic heartbeat.

SIGHT: A weighted average shown on a balance beam.

BODY: Your posture — the default way your body wants to stand when you aren't thinking about it.

Music: Poker Face by Lady Gaga

Part of Probability & Chance — MATHEMATICS — Education Revelation