Combining Expected Value

Combining Expected Value

12th Grade

11 Qs

quiz-placeholder

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Combining Expected Value

Combining Expected Value

Assessment

Quiz

Mathematics

12th Grade

Hard

Created by

Anthony Clark

FREE Resource

11 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You roll a standard die. You win $12 if you roll a six, $6 if you roll a one, and $0 if you roll anything else. What is the expected value of a single roll?

$3

$18

$9

$2

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

Find the expected value.

0.4

0.6

0

1.1

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If the expected value is positive, are you expected to win?

yes

no

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

You spin each spinner once. You get $50 if you spin a 2 and a vowel. You get $25 if you spin a 2 and a consonant. You get $5 if you spin a 1 and a vowel. Everything else earns $0. What is the expected value of this game?

$80

$8.75

$10.25

$12.50

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Media Image

You are going to pick a marble from the container, put it back, and take another. If you get two yellow, you win $200. If you get one yellow on either pick, you get $50. If you pick two red, you get $100. Anything else earns $0. What is the expected value of this game?

$60

$33.33

$44.33

$20

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

You roll two fair dice. If they land with a sum of 7, you get $10. If they land with a sum of 6 or 8, you get $5. Everything else earns $0. Which of the following would be the most reasonable amount to pay to play this game?

$2

$5

$8

$10

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Your business is looking into looking into three contracting firms. Based on previous research, there is a 75% chance that company 1 will earn you $40,000. There is a 45% chance that company 2 will earn you $60,000. Company 3 has a 30% chance of earning you $80,000. It costs $20,000 to draw up legal paperwork for each company. How much profit or loss would you expect after this deal is done?

$81,000 profit

$81,000 loss

$21,000 profit

$21,000 loss

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