Expected value analysis is a powerful way to distill a massive array of possibilities into a few numbers, which helps clarify the most profitable course of action. It starts with a simple calculation based on potential outcomes and their probability.

Note: This course is also available in Video-Based format:
Decision Optimization by Maximizing Expected Value

Learning Objectives
  • Recognize and recall how to calculate the expected value.
  • Recognize decision tools.
  • Identify ways to reduce risk.
Last updated/reviewed: February 24, 2025
Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required for this course.
Education Provider Information
Company: Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact: For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Instructor for this course
  Course Overview
Course Syllabus
COURSE MATERIAL
  Decision Optimization by Maximizing Expected Value (Text Based Course)PDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam