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āš–ļø Random Variables & Expected Value

The expected value is the balance point
of probability as weight

What happens if you place the values a random variable X can take on a scale, weighted according to how likely each is to occur? The point where the scale balances exactly is the expected value E(X). Use the sliders to change the values and probabilities and watch the balance point move, then discover the real usefulness of expected value with a dice prize game.

A random variable X can take the value A or B. Use the slider to change the probability that A occurs. The size of each circle is the size of its probability, and the triangle (ā–²) marks the position of the expected value E(X) = AƗP(A) + BƗP(B).
Value A8
Value B-4
Probability of A, P(A)30%