Expected Utility Calculator
Compute expected value (EMV) from two outcomes and their probabilities. Probabilities normalised if needed.
Use the Expected Utility Calculator
Enter two outcomes and their probabilities (%). Expected value (EMV) is calculated. Probabilities normalised if needed.
Two outcomes
Outcome and probability (%) for each. Probabilities normalised if needed.
Results
Expected value (EMV)
$50.00
Expected value = sum of (outcome x probability). Probabilities normalised to sum to 1.
How this calculator works
Enter two monetary outcomes and their probabilities (%). Expected value = sum of (outcome x probability), with probabilities normalised.
How to interpret your results
EMV is the average outcome if the scenario were repeated. It does not capture risk or preference beyond the numbers.
FAQs
What is expected value?▾
The probability-weighted average of outcomes. EMV = Outcome1 x Prob1 + Outcome2 x Prob2 (probabilities sum to 1).
Which inputs matter most?▾
Both outcomes and both probabilities. Probabilities are normalised to sum to 100% if they do not.
When would I use this?▾
For simple two-outcome decisions or to illustrate expected value. For more outcomes use a full decision table or spreadsheet.
Related tools
Browse all calculators on NetGrow.