10.6 Expected Value Worksheet Please answer each question below regarding expected value. You must show all work to receive credit. Papers submitted with no work attached will earn a grade of 0. This is an independent assignment and should be completed on your own. Write the formula for calculating expected value here: 1. A dice game involves rolling two dice. If the sum of the two numbers rolled is 2, 3, 4, 10, 11, or 12, you win $5. If the sum is 5, 6, 7, 8, or 9, you lose $5. What is the expected value for 1 game? 2. An adventurous aardvark is a card shark and gambler. He offers to let you play in a game with him. To play, you must pay him $2. If you pick a spade, you win $9. What is the expected value for you if you play this game with the aardvark? 3. Your company plans to invest in a particular project. There is a 35% chance that you will lose $30,000, a 40% chance that you will break even, and a 25% chance that you will make $55,000. Based solely on this information, should your company plan to invest or bail? Show your work to explain your answer.
10.6 Expected Value Worksheet Please answer each question below regarding expected value. You must show all work to receive credit. Papers submitted with no work attached will earn a grade of 0. This is an independent assignment and should be completed on your own. Write the formula for calculating expected value here: 1. A dice game involves rolling two dice. If the sum of the two numbers rolled is 2, 3, 4, 10, 11, or 12, you win $5. If the sum is 5, 6, 7, 8, or 9, you lose $5. What is the expected value for 1 game? 2. An adventurous aardvark is a card shark and gambler. He offers to let you play in a game with him. To play, you must pay him $2. If you pick a spade, you win $9. What is the expected value for you if you play this game with the aardvark? 3. Your company plans to invest in a particular project. There is a 35% chance that you will lose $30,000, a 40% chance that you will break even, and a 25% chance that you will make $55,000. Based solely on this information, should your company plan to invest or bail? Show your work to explain your answer.
Transcribed Image Text:10.6 Expected Value Worksheet
Please answer each question below regarding expected value. You must show all work to receive credit.
Papers submitted with no work attached will earn a grade of 0. This is an independent assignment and
should be completed on your own.
Write the formula for calculating expected value here:
1.
A dice game involves rolling two dice. If the sum of the two numbers rolled is 2, 3, 4, 10, 11, or
12, you win $5. If the sum is 5, 6, 7, 8, or 9, you lose $5. What is the expected value for 1 game?
2.
3.
An adventurous aardvark is a card shark and gambler. He offers to let you play in a game with
him. To play, you must pay him $2. If you pick a spade, you win $9. What is the expected value
for you if you play this game with the aardvark?
Your company plans to invest in a particular project. There is a 35% chance that you will lose
$30,000, a 40% chance that you will break even, and a 25% chance that you will make $55,000.
Based solely on this information, should your company plan to invest or bail? Show your work to
explain your answer.
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