Why are people keen to use online tools like expected value and summation? What advantages do they get?

We are living in a digital world, everything around us has been revolutionized in computerized form. The same has applied in the mathematical calculations and formulas. The long and complex calculations that we were used to perform in the back days are long gone.

Several tools to perform mathematical calculations and find solutions to mathematical problems are now available online. The expected value and summation calculator is among the most notable tools that aids their users to find problems of their statistical problems.

In this article we shall explore why people use online tools including summation and expected calculators and what advantages these tools provide in calculations.

Expected Value Calculator

The expected value as the name represents is used in order to calculate the expected value as per probability theory. While the expected result of a given investment that is determined using the weighted average of all potential values of a random variable specified based on their individual probabilities, is termed as the expected value.

However, according to mathematical definition, the expected value is the sum of each possible event multiplied by the likelihood of that outcome occurring. Thus according to mathematical definition, the following formula is applied in order to calculate expected value:

∑(xi * P(xi)) = x1 * P(x1) + x2 * P(x2) + … + xn * P(xn)

You see, calculating the expected value of a random value while working on this formula would consume a lot of your effort and time. In order to avoid such lengthy calculations the expected value calculator is used instead.

Summation Calculator

You can precisely calculate the sum of a series over a specified time period using the summation calculator. All you have to do in order to calculate the summation of your problem is enter the upper limit and lower limit, as well as the function of the summation. 

After entering the values click on the Calculate button thus your summation would be automatically calculated. The summation calculator can sum up many different types of sequences, including the well-known arithmetic and geometric sequences.

Therefore as a result, the summation calculator can assist you in determining the terms of virtually any series, including the nth term as well as the sum of the first n terms. In mathematics, the anticipated value of a bet is the sum of each possible event multiplied by the likelihood of that outcome occurring.

Advantages of Expected Value and Summation Calculator

The general advantages people get by using the expected value and summation calculator are summarized collectively below.

Accuracy  

The summation and expected value calculator eliminates the possibility of human mistake and provides an exact and precise answer to your equations. To ensure that users receive accurate answers every time, such tools constitute a variety of mathematical exceptions and frameworks in their algorithms.

Time Saving

As mentioned above, solving summation and expected value problems using their formulas is a difficult task, particularly when the number of variables rises and makes equations complicated. 

Interacting such complex problems makes it more difficult for people to recall the mathematical steps that are necessary in order to solve problems.

In contrast tools like summation and expected value calculator can complete the task for you by applying all of the mathematical operations in the proper manner and giving you an exact solution to your problem in a matter of seconds.

Free of Cost

Online mathematical tools are usually available free, similarly the expected value and summation calculator are available to use without any cost. No matter how many times you solve your problems using these calculators you aren’t asked to subscribe for premium plans.

Solve Complex Calculations

The capacity to handle complicated questions in a matter of seconds with 100 percent accuracy is a crucial feature that online calculators always possess. Even the experts sometimes might have difficulty with mathematical expressions when they have to deal with extremely complex ones. It is for this reason that the algorithms for summation and expected value calculator are carried out with the highest precision and focus.

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