Probability Distributions and Expected Value

Probability can only be values between which two numbers?

• 0 to 2

• 0 to 10

• 0 to 5

• 0 to 1

Theoretical P(King)

• 2/8

• 1/8

• 3/8

• 1/4

Find the expected value

• Loss of $0.875

• Loss of $2.125

• Win of $1.875

• Win of $3.125

The following M & M colors are in the bowl:

4 yellow, 6 orange, 3 green, 5 blue, 2 brown

What is the probability of selecting a brown candy?

• 2/18

• 1/9

• 1/10

Theoretically, what is the probability of rolling a sum of one with a pair of dice?

• 0

• 1/6

• 1/12

• 1/36

• Discrete
• Continuous

• 0
• 0.1
• 0.5
• 0.05

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

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

Find the mean of the random variable X.

• 2

• 6

• 1

• 4