Expected Value

Question 1

Given the spinner below in which all regions are equal, which of the following point scales would result in a favorable game?

Revolt · Accepted Answer

A number less than or equal to 3 will add one point.A 4 will lose two points.

Question 2

The marketing club at school is opening a student store. They randomly survey 50 students about how much money they spend on lunch each day. What is the expected value for a student to spend on lunch each day? Student Lunch SurveyNumber of StudentsDollars Spent on Lunch Each Day2 $101$812$623$58$44$3

Revolt · Accepted Answer

$5.18

Question 3

If a raffle has a winning prize of $100 and each ticket costs $5 with a total of 500 tickets sold, which equation would calculate the expected value?

Revolt · Accepted Answer

95 (StartFraction 1 Over 500 EndFraction) + (negative 5) (StartFraction 499 Over 500 EndFraction) = E (X)

Question 4

Joe takes part in math competitions. A particular contest consists of 25 multiple-choice questions, and each question has 5 possible answers. It awards 6 points for each correct answer, 1.5 points for each answer left blank, and 0 points for incorrect answers. Joe is sure of 12 of his answers. He ruled out 2 choices before guessing on 4 of the other questions and randomly guessed on the 9 remaining problems. What is his expected score?

Revolt · Accepted Answer

90.8

Question 5

Harlene tosses two number cubes. If a sum of 8 or 12 comes up, she gets 9 points. If not, she loses 2 points. What is the expected value of the number of points for one roll?

Revolt · Accepted Answer

Negative one-sixth

Question 6

A cafeteria purchases milk from one of three providers each week, depending on what other items need to be purchased. The probability of shopping at each store and the cost of one gallon of milk are shown in the table below. Probability and Milk Cost by StoreStoreProbability Milk Cost per GallonA30%$3.00B10%$3.50C60%$2.75The cafeteria should budget $

Revolt · Accepted Answer

2.90

Question 7

Penny Points

Revolt · Accepted Answer

E(penny) = 1.75 and E(nickel) = 1.5, so she should play with the pennies.

Question 8

A trucking company operates in three regions of the country. The table below depicts the probability that each company truck is in the region and the fuel prices per gallon. What amount should the company budget on average for a gallon of fuel across its operations? Round your answer to the nearest cent.Probability and Fuel Cost by RegionRegionProbability in RegionFuel Cost per GallonSoutheast20%$3.10Southwest30%$3.50California50%$4.05

Revolt · Accepted Answer

$3.70

Expected Value Answers

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