2324 Q2 TEST Probability Distribution

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

• 14
• 4.67
• 5
• 7.5

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

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

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

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

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. What are your expected winnings (on average)?

• $800 
• -$6.50
• -$6
• -$5.20

Answer explanation

SInce the cost of the ticket is $6, that needs to be subtracted from the winning value. There's only 1 winning ticket which means all the other tickets are losing and they lose their $6

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

Answer explanation

Tags

CCSS.HSS.MD.B.5A

A company believes it has a 40% change of being successful in bidding a contract that yields a profit of $30,000. Assume it costs $5,000 in consultation fees to prepare the bid. What is the expected gain or loss for the company if it

decides to bid on the contract?

• Expected gain of $9,000

• Expected loss of $9,000

• Expected gain of $25,000

• Expected loss of $25,000

Answer explanation

The key word here is "profit". Profit means you've already subtracted out your loss and the $30000 is exactly what you would earn if you get it. The $5000 is only lost if they lose the bid.

Tags

CCSS.HSS.MD.B.5A