Probability Distribution Expected Value

• 0.45
• 0.65
• 1.00
• 1.44

• Box A
• Box B
• Box A or B, but not C
• All boxes offer the same expected winnings

Determine which of the following distribution is NOT a probability distribution.

• A

• B

• C

• D

The table above shows a television station's advertisement sales. The distribution of sales for one 24-hour day is given. Solve for the mean. Round to the nearest hundredth.

• 31.8

• 15.68

• 0.20

• 1.00

At Tucson Raceway Park, your horse, has a 1/20 probability of of coming in first place, a probability of 1/10 of coming in second place, and a probability of 1/4 of coming in third place. First place pays $4500 to the winner, second place $3500, and third place $1500. Is it worthwhile to enter the race if it costs $1000?

• No, it is expected that you will lose money

• Yes, it is expected that you will win money

Your company plans to invest in a particular project. There is a 35% chance that you will lose $30,000, a 40% chance that you will break even and a 25% chance that you will make $55,000. Based solely on this information, what should you do?

• Invest! You expected to make $3,250.40

• Do NOT Invest! You expected to lose $3,250.40

A grab bag contains 12 packages worth 80 cents apiece, 15 packages worth 40 cents apiece and 25 packages worth 30 cents apiece. Is it worthwhile to pay 50 cents for the privilege of picking one of the packages at random? (HINT: Make a probability distribution - there are 52 total packages)

• No, you expect to lose $0.06

• Yes, you expect to win $0.06

Probabilities can only be values between which two numbers?

• 0 to 2

• 0 to 10

• 0 to 5

• 0 to 1

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

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