Expected Value Answers

4 verified answers2 views

What is the expected value? Should you play the game?

3/13 points; yes, you should play the game

0 points; yes, the game is fair and you should play

–3/13 points; no, you should not play the game

For what expected value is a game fair?

E(X) < 0

E(X) = 0

E(X) = 1

E(X) > 0

The expected value of the number of points won on a spin is .

–0.25 points

0 points

0.5 points

1 point

1.25 points

Suppose you spin the carnival spinner 1,000 times. How many points would you expect to win or lose?

lose 500 points

lose 250 points

win 250 points

win 500 points

Did you find these answers helpful?

More from this Course