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Everyday Statistics and Climate Change Strategies (with Cassandra Xia)
Clearer Thinking with Spencer Greenberg
The Power of Expected Value
Expected value is really a decision-making tool, right? Like by thinking about a decision you have to make in the world, you can think about which one has the highest expected value. For example, if you're playing a betting game, like poker, if you are making relatively small bets, if you try to maximize expected value, you'll actually do the best over a long period. But so that's kind of what I see as one of the most powerful reasons to understand expected value.
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