Click “ Calculate Expected Value.” for multiple probabilities 0. Expected Value: 0. Expected Value Calculator was last modified: April 22nd, by Andale. This calculator will tell you the expected value for a binomial random variable, given Please enter the necessary parameter values, and then click ' Calculate '. Online discrete random variable calculator to find expected value, variance and expected value,variance and standard deviation are calculated easily. Not Helpful 0 Helpful 0. For a single discrete variable, it is defined by. What is Expected Value? Not Helpful 1 Helpful 1. The probability of the outcomes usually depends on many external factors. Online expected value calculator. Each possible outcome represents a portion of the total expected value for the problem or experiment that you are calculating. After, the user clicks the 'Calculate' and the expected value will be calculated and automatically displayed. To get a more practical illustration of expected value, let's go through a real-world example. Determine the probability of each outcome. We can apply expected value into all areas of math and science to help gauge future outcomes. I designed this web site and wrote all the mathematical theory, online exercises, formulas and calculators.