the

expected value of a claim and its expected marginal cost is the

In some cases, millions of people face a loss with a positive

expected value.

Equilibrium entry again occurs such that zero

expected value is realized by the lowest valued entrant.

Therefore, if Jenkins uses

expected values as the basis for his decision, he will choose the middle path of ordering 200 cartons for his day's trading.

12, which does not need normalization because the log of the mean level of the foreign exchange rate cancels, the average difference, between the log of the

expected value and the

expected value of the log across the 200 data points, is statistically significantly different from zero (t-statistic: 41.

Setting

expected values takes time and effort and some knowledge of statistics.

None of the methods allows for a rigorous evaluation of variation from

expected values or leaves much room for negotiation where there is more than one interested party.

i] be the

expected value of the sampling distribution of [x.

In contrast to selecting human or automation based on whichever has the greatest

expected value (benefit minus cost), there is also the minimax loss criterion -- that is, selecting human or automation to minimize the worst-case payoff, whatever the value of p(F).

The conditional

expected value of total warranty cost has been analysed.

Proof: Since the

expected value of producer's surplus net of cost of entry is zero, the

expected value of total surplus equals that of consumer's surplus.

At the racetrack, the

expected value of a bet placed on a favorite is greater than that placed on a long shot.