The concept of expected value is often used to choose between different actions when the exact outcome of those actions is uncertain.

Name: The concept of expected value is often used to choose between different actions when the exact outcome of those actions is uncertain.
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Expected value is a fundamental concept in probability and statistics used to determine the average outcome of a random event over a large number of trials, making it a useful tool for decision-making under uncertainty.

The Concept of Expected Value Is Often Used to Choose