requires estimating the odds that something might occur.
Part III then contends that the Court should interpret footnote 5's standard as encapsulating the probability concept of expected value
. The Part justifies this augmented standard through legal precedent, additional probability principles, and practical concerns.
It has a 21.73 percent win probability, with a 1.068 expected value
where is the expected value
of a claim as a function of its scope
How to define expected value
of an interval estimate.
When comparing insurance policies of equal expected value
, the coinsurance guarantee must be higher than the deductible guarantee, so switching from deductible to coinsurance will lead to more frequent claims of smaller sizes.
dollar amount; this model, unlike the expected value
model, can take
We did make a simple mathematical error in calculating the percentages in Figure 1, and the expected values
were calculated incorrectly for Tables 1-3.
In essence, rather than adapting the expected value
model to the existence of ambiguity in probability judgments, the choice model provided by Einhorn and Hogarth reduces the ambiguity so that it becomes consistent with the existing expected value
But he proposes more modestly that standard expected value
cost-benefit analysis is misleading and undervalues the probability of, and benefits from, preventing extreme outcomes.
The airline, which will use the rest of the proceeds to support growth plans, such as codesharing and takeovers, would not comment on the expected value
but a recent report suggested it could be in the region of pounds 200m.
"Under the agreement, OCI will start three projects -- one in the north coast and two at Greater Cairo area -- with an expected value
exceeding 600 million" Egyptian pounds ($104.2 million), the company said in a statement.