roll comments on Looking for an intuitive explanation of expected outcome - Less Wrong

0 Post author: Blackened 20 June 2012 01:33AM

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Comment author: roll 20 June 2012 06:17:28PM 0 points [-]

I think what may be confusing about expected outcome is the name. You don't actually expect to get 5 dollars out of this :) . You don't even expect to get, say, 5 million dollars after 1 million games, such would be rather unlikely. You do expect to get 5$ per game if you played infinitely many games, though, and if you are playing such games on small amounts of money you can choose the game to play based on expected outcome.