1.	What is expected value?
		A.	The sum of the products of the probabilities and payoff.
		B.	The product of the sums of the probabilities and payoff.
		C.	The sum of the quotients of the probabilities and payoff.
		D.	The difference of the products of the probabilities and payoff.
		Hint
	2.	Based on past sweepstakes a company expects 180,000 entries. Find the expected values of sweepstake A shown in the chart. Round to the nearest hundredth.
		A.	0.56	B.	0.63
		C.	0.41	D.	0.75
		Hint
	3.	Based on past sweepstakes a company expects 600,000,000 entries. Find the expected values of Sweepstake B shown in the chart. Round to the nearest ten thousandth.
		A.	0.0019	B.	0.0036
		C.	0.0185	D.	0.0142
		Hint
	4.	A Las Vegas company states the probability of winning $60,000 is 0.012, the probability of winning $15,000 is 0.014.and the probability of winning $15,000 is 0.014. What is the expected value?
		A.	1140	B.	90,000
		C.	50,254	D.	1523
		Hint
	5.	A chess club is thinking of selling magazines as a fundraiser. The company states the probability of making $6,000 is 0.67 and the probability of losing $2500 is 0.27. The company claims that on average any club makes over $5000. Is this claim accurate? Why or why not?
		A.	no; The expected value is under $5000.	B.	yes; The expected value was over $5000
		C.	no; The expected value was over $5000.	D.	yes; The expected value is under $5000.
		Hint