Expected Value

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

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

Find the mean (expected value) of the probability distribution.

• 85

• 83.2

• 87.1

• 84.4

Tags

CCSS.HSS.MD.A.2

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

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

Find the expected value

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

Tags

CCSS.HSS.MD.B.5A

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

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