Expected Value Explained Intuitively

The focus of this video is to try and understand how we can interact with a world FILLED with probabilistic situations. In particular, we’re going to learn about EXPECTED VALUE and how it can allow us to make much better predictions about future events. If you stick around, I’m going to quickly define expected value using a simple stylized example, then provide a bunch of practical examples of how expected value can be used in the real world, and, finally, work to help you take what you’ve learned, turn it into intuition, and apply it to other examples in your life. Learn more about who I am and why I'm doing this here: https://youtu.be/sLIquDwwTpw Follow me at: LinkedIn: https://www.linkedin.com/in/jeff-galak-768a193a Patreon: https://www.patreon.com/datademystified Equipment Used for Filming: Nikon D7100: https://amzn.to/320N1FZ Softlight: https://amzn.to/2ZaXz3o Yeti Microphone: https://amzn.to/2ZTXznB iPad for Teleprompter: https://amzn.to/2ZSUkNh Camtasia for Video Editing: https://amzn.to/2ZRPeAV