Expected Value

Given the probability model in the table below, what is the expected value of the random variable?
  X        50          20        5
P(X)     0.1         0.3      0.6

• 14
• 4.67
• 5
• 7.5

Tags

CCSS.HSS.MD.A.2

If the expected value is negative, are you expected to win?

• yes
• no

Tags

CCSS.HSS.MD.A.2

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

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

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

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

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

Tags

CCSS.HSS.MD.B.5A

A Stats test has 5 multiple choice questions with four choices with one correct answer each. If we just randomly guess on each of the 5 questions, what is the probability that you get exactly 2 questions correct?

• 0.6250

• 0.25

• 0.0625

• 0.2636

A $20 bill, two $10 bills, three $5 bills and four $1 bills are placed in a bag. If a bill is chosen at random, what is the expected value for the amount you will win when you chose one bill from the bag?

• $5.90

• $9.00

• $7.50

• $10.00

Tags

CCSS.HSS.MD.B.5A

A game consists of rolling a colored die with three green sides, two red sides, and one blue side. A roll of a red loses. A roll of a blue pays $6.00. A roll of a green pays $2.00. What is a “fair” (fair meaning the expected payout is $0) price to pay to play?

• $1.67

• $2.00

• $1.75

• $1.99

Tags

CCSS.HSS.MD.B.5A