Expected Value MCHS with harder questions

Eva flips a coin. If she gets heads, she wins $4. If she gets tails, she loses $3. What is her expected value of a coin flip?

• $1

• $0.50

• -$0.50

• $0

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

Suppose you buy a ticket for $6 out of a lottery of 1000 tickets where the prize for the one winning is to be $800. How much money do you take home (after paying for it)?

• $800

• -$6.50

• -$6

• -$5.20

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

A student group sells 500 raffle tickets for $2 each. At the drawing the top prize will be a gift certificate for $100. Second prize will be a $50 gift card and there will be five 3rd prizes, each a $20 gift card. Do you expect to win or lose (on average)? How much?

• lose an average of $5.50

• lose an average of $1.50

• win an average of $2.00

• lose an average of $10.00

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

Suppose you pay $1.00 to roll a fair die with the understanding you will get $3.00 back rolling a 4 or a 2, and nothing otherwise. What is the expected amount you win?

• $0.00

• -$1.00

• $1.00

• $3.00

A game consists of rolling a colored die with three red sides, two green sides, and one blue side. A roll of a red loses. A roll of green pays $2.00. A roll of blue pays $5.00.   The charge to play the game is $2.00. What is the expected value

• $0
• -$0.50
• $.67
• $-1.50

One option in the game of roulette is to bet $6 on red. (There are 18 red compartments, 18 black compartments and two compartments that are neither red nor black.) If the ball lands on red, you get to keep the $6 you paid to play and you are awarded an additional $6. If the ball does not land on red, you win nothing and you lose your $6 bet. Find the expected payback (on average) for this game if you bet on red.

• -$5.54
• -$0.32
• -$4.48

A coin is flipped 3 times. If you get tails once you get $5, tails twice you get $15, and tails on all three flips you get $40. What is the expected amount of money you will get?

• $12.50
• $5
• $7.50
• $10

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

You pick a card from a deck.  If you get a face card, you win $5.  If you get an ace, you win $30 plus an extra $60 for the ace of hearts.  For any other card you win nothing. Find the expected value you will win.

• $5.00
• $3.85
• $4.04
• $4.62

A child asks his parents for some money. The parents make the following offers.

Father’s offer: The child flips a coin. If the coin lands heads up, the father will give the child $20. If the coin lands tails up, the father will give the child nothing.

Mother’s offer: The child rolls a 6-sided die. The mother will give the child $3 for each dot on the upside of the die.

Which offer has the greater expected value?

• Mother's Offer

• Father's Offer

In a certain community, 30% of households have 1 child, 43% have 2 children, and 27% have 3 children. If a household is selected at random, what is the expected number of children in that household? HINT: A Probability table may be helpful.

• 2.00
• 2.13
• 1.97
• 1.27

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5