🤔

Expected Value Calculator

Inputs

Outcome 1 Value(USD)

The monetary or numerical result of the first possible outcome

Outcome 1 Probability(%)

Likelihood of this outcome occurring (0-100%)

Outcome 2 Value(USD)

The monetary or numerical result of the second possible outcome

Outcome 2 Probability(%)

Likelihood of this outcome occurring (0-100%)

Outcome 3 Value(USD)

Optional third possible outcome

Outcome 3 Probability(%)

Likelihood of third outcome (leave as 0 if not used)

Expected Value

—

Average outcome weighted by probability

Total Probability

—

Best Possible Outcome

—

Worst Possible Outcome

—

Variance

—

Formula

EV = (O1 × P1) + (O2 × P2) + (O3 × P3), Variance = Σ[P × (O - EV)²]