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(expected monetary value)

Where the payoff to the player in a game is dependent on chance outcomes, the emv is the average gain the player would achieve per game in the long run. It is calculated as sum of: each payoff multiplied by the probability of that payoff.

For exampleThe emv is 3×0.2+0×0.3+(−1)×0.5=0.1 and the value can be written in the circle.

Subjects: Mathematics.

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