Expected Value Worksheet
Grade 9 math worksheet on expected value, covering calculations for games of chance and real-world scenarios.
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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 standard six-sided die. If you roll a 6, you win $10. If you roll a 1 or 2, you lose $5. If you roll a 3, 4, or 5, you win nothing. What is the expected value of playing this game?
2. In a raffle, 200 tickets are sold at $2 each. There is one grand prize of $100 and two second prizes of $25 each. What is the expected value of a single ticket?
$0.25
$0.00
-$0.25
-$0.50
3. Expected value is calculated by multiplying each possible by its probability and then the results.
4. If the expected value of a game is negative, it means that, on average, a player can expect to money over time.
5. A company is considering investing in a new project. There is a 60% chance of making a profit of $50,000, a 30% chance of breaking even ($0 profit), and a 10% chance of losing $20,000. Calculate the expected profit from this project.
6. A positive expected value always guarantees a win in a single trial.
True
False