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Expected Value Worksheet

A Grade 10 math worksheet focusing on understanding and calculating expected value in various probability scenarios.

Grade 10 Math Probability and StatisticsExpected Value
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Includes

2 Short AnswerMultiple ChoiceFill in the BlanksTrue / False

Standards

CCSS.MATH.CONTENT.HSS.MD.A.2CCSS.MATH.CONTENT.HSS.MD.B.5
7 sections · Free to use · Printable
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Expected Value Worksheet

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Read each question carefully and calculate the expected value. Show all your work.

1. A game involves rolling a fair six-sided die. If you roll a 6, you win $10. If you roll a 5, you win $5. For any other roll, you lose $2. What is the expected value of playing this game?

2. In a lottery, there is one $1000 prize, ten $100 prizes, and one hundred $10 prizes. If 1000 tickets are sold at $5 each, what is the expected value of a single ticket?

a

$0.50

b

-$1.00

c

$2.50

d

-$2.50

3. The expected value represents the   outcome of an event over a large number of trials.

4. If the expected value of a game is negative, it means that, on average, a player can expect to   money.

5. A fair game has an expected value of zero.

T

True

F

False

6. Expected value is always one of the possible outcomes of an event.

T

True

F

False

7. A company is considering investing in a project. There is a 40% chance of making a profit of $50,000, a 30% chance of breaking even, and a 30% chance of losing $20,000. What is the expected value of this investment?