Probability, Jacob Bernoulli, Mathematical Modeling, Society And Culture, Stock Market.
six-sided die. The expected value E( X) of the outcome is 3.5, since each side has an equal probability of landing face up, and the average (mean) of all possible outcomes (1 through 6) is 3.5. If you roll the die a large number of times, the average value of the results should approach 3.5,