Expected Value Worksheet
A Grade 10 math worksheet focusing on understanding and calculating expected value in various probability scenarios.
Includes
Standards
Expected Value Worksheet
Name:
Date:
Score:
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?
$0.50
-$1.00
$2.50
-$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.
True
False
6. Expected value is always one of the possible outcomes of an event.
True
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?
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