Expected Value Explained Intuitively

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  • Опубліковано 22 гру 2024

КОМЕНТАРІ • 38

  • @Wassie9048
    @Wassie9048 3 роки тому +11

    This is how an educational contents should be made, insightful, fun and have a real life examples that we can apply. Well done, sir!

    • @DataDemystified
      @DataDemystified  3 роки тому +1

      Thanks so much for your comment! I'm really glad you found the content useful!

  • @kaelaruiz5676
    @kaelaruiz5676 4 роки тому +3

    These are very digestible examples to describe expected value. Builds upon the examples I remember from undergrad that only touched on probability but didn’t go further in to explaining expected value. Thank you for your videos!

  • @ananyakumari6807
    @ananyakumari6807 4 роки тому +7

    It's a great insight when we can see things from real life perspective. I would love it if you could cover other topics of statistics as well, central limit theorem, distributions. It actually helps a lot when we are able to connect dots, and thank you for such an awesome video. Hope to learn more !!

    • @DataDemystified
      @DataDemystified  4 роки тому

      Thanks! I absolutely plan to make some videos on the content you suggested. Need to first figure out the best way to make those key connections you mentioned and do so in a visual format. Thanks again

  • @ashutoshpanigrahy7326
    @ashutoshpanigrahy7326 Рік тому

    Finally, understood the utility of expected vals. Thanks!

  • @pt-yt8322
    @pt-yt8322 4 роки тому +2

    Just found out about this channel through reddit on a math subreddit, very interesting information. I love the channel, I think it’s extremely informative! If possible, please make more videos involving math or applying math in real life examples and the importance of math. Math is always something that’s intrigued me my entire life and i’m always constantly searching online for explanations of math used in real life haha. The number one thing I hear from friends and family because I love math so much is: “why is math so important? how do you even use it in real life outside of school?” I can answer that question but only partially, i’m currently just a college student hungry for more information on all sorts of topics from math, science, philosophy, etc. haha

  • @suheladesilva2933
    @suheladesilva2933 8 місяців тому +1

    This is a brilliant video, thanks very much professor.

  • @GF86123
    @GF86123 Рік тому

    Best explanation i’ve seen.

  • @Itht127
    @Itht127 10 місяців тому

    Great content. I’m very interested in learning more about expected value specifically as it pertains to gaming and making decisions in the financial markets. Any deep dive you’re willing to do on the subject would be greatly appreciated

  • @nandersoul
    @nandersoul 4 роки тому +1

    great video!
    Probability as a concept is so inherently seductively falsely intuitive, like people go in thinking "Oh I know my odds" but its so easy to be led astray by a few up front false assumptions that our brains are evolutionarily hardwired to want to make because its been beneficial to just "wing it" with a quick glance for so long, but now that we face complex problems more often, that evolutionary benefit to back-of-the-napkin on the fly calculations is diminishing in real time. Day trading ain't counting coconuts but our monkey brain wants to use the same template.
    (also, shout out to someone posting this to R/socialscience for bringing me here.)

    • @DataDemystified
      @DataDemystified  4 роки тому

      Thanks for the comment! Intuition got statistics is really not easy...that’s what I hope to get across in these videos for sure.

  • @kemikuti898
    @kemikuti898 3 роки тому +1

    Amazing video I love looking at things such as maths intuitively, you have a new subscriber!

  • @seeker4430
    @seeker4430 3 роки тому +2

    could you please make a on all those topics you mentioned at the end please?? In fact a whole series on statistics would be great since there are many videos on statistics on youtube but none are as great as this.

    • @DataDemystified
      @DataDemystified  3 роки тому +1

      Thank you for the compliment! I suggest you check out the "Data Intuition" playlist on my channel. I cover a lot of topics in statistics that you might find interesting. Link here: ua-cam.com/play/PLmXNcJ-VjBYrySRGXmkJMHpw6O4E--XxC.html

    • @seeker4430
      @seeker4430 3 роки тому

      @@DataDemystified Thank you. I did see the playlist. Its awesome. One suggestion: Please include a little math/formula and explain it a little. I know your videos are about developing an intuitive understanding which is very important but a little math wont hurt I guess. Also could you please make more videos on basics of statistics like binomial distribution, Poisson distribution etc.
      A balance between intuitive explanation and math would be unlike any other.
      Kudos to the great work you have been doing!

    • @DataDemystified
      @DataDemystified  3 роки тому +1

      @@seeker4430 Thanks for the feedback! I'll definitely take it into consideration for future videos!

  • @maooto
    @maooto Рік тому

    Formula @ 3:57 appears not technically correct for converting odds to probability (albeit no tangible difference in result)

  • @ashtonronald
    @ashtonronald Рік тому

    best video for me yet!

  • @kishansahu2518
    @kishansahu2518 3 роки тому +2

    Can we have a playlist of statistics and probability?

    • @DataDemystified
      @DataDemystified  3 роки тому

      Anything in particular you want in that playlist?

    • @kishansahu2518
      @kishansahu2518 3 роки тому

      @@DataDemystified yesss..Random variables plzz

  • @seymagulnihalyildiz6488
    @seymagulnihalyildiz6488 8 місяців тому

    wonderful, great, amazing content!!!!!!! thank you so much!!!!

  • @based_yasser
    @based_yasser Рік тому

    Thank you sir, well explained

  • @קרןגורארי-ח9ע
    @קרןגורארי-ח9ע 5 місяців тому

    loved it! thank you!

  • @codewithwaseem6489
    @codewithwaseem6489 Рік тому

    you got a new subscriber bro

  • @yosef5953
    @yosef5953 3 роки тому +3

    I can consider the data demystified, haha. thank you!

  • @alvaroriveraarcelus3452
    @alvaroriveraarcelus3452 3 роки тому +1

    Thanks man!

  • @ChildMonica-b1z
    @ChildMonica-b1z 3 місяці тому

    Anderson Matthew Hernandez Matthew Hernandez Maria

  • @cadenchiang3891
    @cadenchiang3891 12 днів тому

    great vudeio

  • @imranmagsi8316
    @imranmagsi8316 3 роки тому +1

    a bit fast for a bilingual to catch. btw nicely explained though!

    • @DataDemystified
      @DataDemystified  3 роки тому +2

      Thanks. Sorry if it’s too fast. You can always play it at .75x speed. Best!