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Expected Value Worksheet

A Grade 11 math worksheet focused on understanding and calculating expected value in various probability scenarios.

Grade 11 Math Probability and StatisticsExpected Value
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Includes

Multiple ChoiceShort AnswerFill in the BlanksTrue / FalseCustom

Standards

CCSS.MATH.CONTENT.HSS.MD.A.2CCSS.MATH.CONTENT.HSS.MD.B.5.A
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 number, you lose $3. What is the expected value of playing this game?

a

$0.50

b

$1.00

c

-$0.50

d

$2.00

2. A spinner has three equally likely outcomes: winning $50, winning $20, or losing $30. What is the expected value of playing this game?

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

4. The formula for expected value is the sum of each outcome multiplied by its corresponding  .

5. A fair game is one where the expected value is exactly zero.

T

True

F

False

6. A charity is selling raffle tickets for $5 each. There are 500 tickets sold. The prizes are one $500 gift card, five $50 gift cards, and ten $20 gift cards. What is the expected value of buying one raffle ticket?