Probability and Expected Value Quiz

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

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

• 85

• 83.2

• 87.1

• 84.4

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. How much money do you take home (after paying for it)?

• $800

• -$6.50

• -$6

• -$5.20

Tags

CCSS.HSS.MD.B.5A

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

What is the probability of flipping a coin five times and getting heads every time?

• 1/5

• 2/5

• 1/10

• 1/32

You roll a die then flip a coin, what is the probability of getting tails and 3?

• 1/12

• 1/6

• 1/4

• 3/8

You roll two dice. If both dice land on 6 you win $25. If not, you lose $1. Which of these will give the expected value of this game?

• 1/6 ($25) + 5/6 (-$1)

• 1/36 ( $25) + 35/36 ( -$1)

• 1/36 ( $25) + 1/36 (-$1)

• 1/6 ($25) + 1/6 (-$1)

Tags

CCSS.HSS.MD.B.5A

You spin the spinner two times. If you get blue both times, you win $15. If you don't, you lose $2. How much money do you expect to win or lose if you play this game 1000 times?

• Win $11

• Win $111

• Lose $11

• Lose $111

Tags

CCSS.HSS.MD.B.5A