Expected Value Stat

• 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

• 31.7
• 34.1
• 63.4
• 68.2

Choose an American household at random. What is the expected number of cars for that household?

• 1.75

• 1.84

• 2.00

• 2.50

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

• 85

• 83.2

• 87.1

• 84.4

The distribution describes lotto ticket probabilities to win different amounts. What is the expected value for this lotto ticket? (Do not include a dollar symbol in answer)

Mathematical Equivalence

ON

Answer explanation

Expected Value is calculated by adding the product each paired outcome and probability

A small store keeps track of the number X of customers that make a purchase during the first hour that the store is open each day. Based on the records, X has the following probability distribution. What is the average number of customers that the owner can expect to make a purchase in the first hour of opening?

• 0.2

• 1.4

• 2.0

• 3.0

Data was compiled and the number of goals for a hockey team per game and the corresponding probabilities are given below. If this hockey team plays an 82-game season, what is the expected cumulative goal total for the next season?

• 220

• 239

• 261

• 309

• 320

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

Find the expected value. READ CAREFULLY!

• 4.5

• 25.5

• 3.825

• 6.52