3blue1brownExpected Value Estimations In Finance, in Business, in Health
Audience:
Tags: expected-valuepractical
Some mathematical topics can be useful in various real life cases. Expected value is one of these that can inform mathematical thinking in many practical ways. This lesson shows how some simple math can improve your mathematical reasoning in finances, in business, and in health.
Analytics
Comments
Just three examples of what a mean is.
Perhaps stating
Expected value = sum( Xi * Pi )
is the same as the average m=Xi/n when all Pi=1/n would help link your explanation to what students already know.
Nice! A couple pictures or diagrams would’ve made it more engaging.
The article introduced what expectations in probability were but then used disconnected examples to explain the concept. Especially the last case study of vaccines felt very out of place and I didn’t understand how that connected to the rest of the article. Also, the topic being discussed was a bit too easy and didn’t spark any intuitive thinking or introduce a concept people would consider “new”.