Expected Value Practice

Choose an American household at random. What is the expected number of cars for that household?

• 1.75
• 1.84
• 2.00
• 2.50

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

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

Find the expected value. READ CAREFULLY!

• 4.5
• 25.5
• 3.825
• 6.52

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

Which option gives the greatest Return on Investment?

• Option I
• Option II
• Option III
• It doesn't make a difference

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

Find the expected value

• Loss of $0.875
• Loss of $2.125
• Win of $1.875
• Win of $3.125

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

A car dealer buys hybrids for $21,000 each and sells them for $24,500 each. Find his expected weekly profit.

• $2,380
• $5,355
• $8,109
• $37,485

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.B.5

HINT: Read carefully! And think about the TOTAL amount of money being gained or lost in each situation!

• $275
• $625
• $2,750
• $6,250

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.B.5

• 0.45
• 0.65
• 1.00
• 1.44

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.A.3

CCSS.HSS.MD.B.5

• Box A
• Box B
• Box A or B, but not C
• All boxes offer the same expected winnings

Tags

CCSS.HSS.MD.A.2

CCSS.HSS.MD.B.5