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What is the difference between expected value and experimental probability?

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What is the difference between expected value and experimental probability?

2 months ago
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What is the difference between expected value and experimental probability?

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365 Team 1 month ago
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Hello there!
 
Theoretically speaking, the expected value is the average outcome we expect to get after infinitely many trials, whereas the experimental probability is just the probability we’re assuming based on several trials. The idea is that one is a probability of an event/outcome occurring (which we’ve determined empirically), while the other is the theoretical outcome we expect to get on average. 
 
Best, 
365 Vik

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