Suppose you pay $1.00 to roll a fair die with the understanding you will get $3.00 back rolling a 4 or a 2, and nothing otherwise. Is this a fair game?

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?

Calculate the missing probability

Games of chance do not involve

A child asks his parents for some money. The parents make the following offers.

Father’s offer: The child flips a coin. If the coin lands heads up, the father will give the child $20. If the coin lands tails up, the father will give the child nothing.

Mother’s offer: The child rolls a 6-sided die. The mother will give the child $3 for each dot on the up side of the die.

Which offer has the greater expected value?

(hint - create a provability model)

A fair number cube with faces numbered from 1 to 6 is rolled. What is the probability that the number rolled is some number other than 6?

A spinner has 5 sections with the following numbers on it:

3 4 4 5 6

Each section is equally likely.

It is spun 75 times.

Roughly how many times would you expect him the spinner to land on 4?

Each night, your best friend phones you either 1, 2, or 3 times. There is a 35% of getting one call, a 40% chance of getting two calls, and a 25% chance of getting three calls. What is the expected number of phone calls?

Phoenix tells Omar she will give him $1 if he rolls a number divisible by three or $3 dollars if he rolls a five on a single die. If Omar rolls a one, he needs to give Phoenix $5. How much can Omar “expect” to make in the long run if he plays this game with Phoenix?