Expected Values

You roll a standard die. You win $12 if you roll a six, $6 if you roll a one, and $0 if you roll anything else. What is the expected value of a single roll?

• $3

• $18

• $9

• $2

Tags

CCSS.HSS.MD.B.5A

Your friend shuffles a standard deck of cards and says to pick one. If you pick a face card (Jack, Queen, King of each suit) your friend will give you $10. If you pick anything else, you owe your friend $5. How much should you expect to win or lose by playing this game?

• Lose $6.15

• Win $6.15

• Lose $1.50

• Win $1.50

Tags

CCSS.HSS.MD.B.5A

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

• yes
• no

Tags

CCSS.HSS.MD.A.2

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.B.5A

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. Is this a fair game?

• yes

• no

Tags

CCSS.HSS.MD.B.6

CCSS.HSS.MD.B.7

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.B.5A

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

• 24

• 30.75

• 14

• 18.3

Tags

CCSS.HSS.MD.A.2

A stockbroker estimates that at the end of the year, there is a 40% chance a stock will be worth $50, a 35% chance it will be worth $60 and a 25% chance it will be worth $70.
What expected value does this broker assign to this stock's end-of-the-year price?

• $58.50
• $60.00
• $62.50
• $65.00

Tags

CCSS.HSS.MD.A.2

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

Tags

CCSS.HSS.MD.B.5A

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