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

Quiz
•
Mathematics
•
12th Grade
•
Hard
Anthony Clark
FREE Resource
10 questions
Show all answers
1.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
yes
no
2.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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. What is the expected amount you win?
$0.00
-$1.00
$1.00
$3.00
3.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
A stockbroker estimates that at the end of the year, there is a 40% chance a stock will be worth $50, a 35% chance it will be worth $60 and a 25% chance it will be worth $70.
What expected value does this broker assign to this stock's end-of-the-year price?
$58.50
$60.00
$62.50
$65.00
4.
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
5.
MULTIPLE CHOICE QUESTION
1 min • 1 pt
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
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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