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1. |
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. |
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A. |
0.56 |
B. |
0.63 |
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C. |
0.41 |
D. |
0.75 |
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Hint |
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2. |
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. |
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A. |
0.0185 |
B. |
0.0036 |
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C. |
0.0142 |
D. |
0.0019 |
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Hint |
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3. |
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? |
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A. |
50,254 |
B. |
90,000 |
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C. |
1140 |
D. |
1523 |
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Hint |
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4. |
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? |
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A. |
no; The expected value is under $5000. |
B. |
yes; The expected value was over $5000 |
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C. |
no; The expected value was over $5000. |
D. |
yes; The expected value is under $5000. |
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Hint |
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5. |
Two children are playing with a bag of four marbles. One is white, 2 are blue and 1is red. Each child takes a marble from the bag. The child with a red marble receives 3 points. Otherwise the child loses one point. Is the game fair? Why or why not? |
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A. |
yes; The expected value is equal to zero. |
B. |
no; The expected value does not equal zero. |
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C. |
no; The expected value is equal to zero. |
D. |
yes; The expected value does not equal zero. |
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Hint |
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