In essence, expected value looks at how much you're expected to earn by playing a game of chance. Conveniently, Powerball publishes their probabilities so we can easily calculate the chance.

In order to use the expected value method, you need to know two things: how much a given event will cost the company if it happens and the probability of that event actually happening.

Calculating Win Probability Once I have the expected goals for each team, I use poisson distribution to calculate the probability of each team winning and the possibility of a draw. If you would ...

You can estimate the expected value of your current venture, compare it to other opportunities and make a sensible decision on what is more beneficial for you.

Moving beyond the traditional box score, Next Gen Stats can be used to quantify metrics such as the difficulty of every throw and the expected yards gained by a receiver after the catch. We are ...