In this video I will walk you through a question on the CMA Exam Part One topic, Expected Value Analysis. For. Expected value is defined as the difference between expected profits and expected costs. Expected profit is the probability of receiving a certain profit times the. Monash has achieved an enviable national and international reputation for research and teaching excellence in a short 50 years. In probability theorythe expected value of a random variableintuitively, is the long-run average value of repetitions of the experiment it represents. Note on the formula: He can choose to plant corn or soybeans or to not plant anything at all. Multiply 1 by 2 to get: The site editor may also be contacted with questions or comments about bet at home itn Open Educational Resource.