Expected values, also known as mean values, refer to the statistical average that is expected to occur in a set of data. There are various synonyms that can be used to describe expected values, such as statistical average, anticipated value, predicted mean, or probable outcome. It is important to note that the methodology used to calculate the expected value may differ depending on the application and the type of data being analyzed. Nonetheless, the concept of expected values is fundamental in data analysis and is often used to make informed decisions based on statistical patterns and trends.