lean_workbook_plus_62336

If there are $n$ possibilities that occur with probabilities $p_1,p_2,p_3,\ldots,p_n$ that are all-encompassing (so $p_1+p_2+\cdots+p_n=1$) that have values $e_1,e_2,e_3,\ldots,e_n$ if they occur, then the expected value is defined as $E=p_1e_1+p_2e_2+\cdots+p_ke_k$.