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.
   
    A. 0.56 B. 0.63
    C. 0.41 D. 0.75
    Hint

  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.
   
    A. 0.0185 B. 0.0036
    C. 0.0142 D. 0.0019
    Hint

  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?
    A. 50,254 B. 90,000
    C. 1140 D. 1523
    Hint

  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?
    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

  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?
    A. yes; The expected value is equal to zero. B. no; The expected value does not equal zero.
    C. no; The expected value is equal to zero. D. yes; The expected value does not equal zero.
    Hint



Glencoe
The McGraw-Hill Companies