Expected Value Answers

Given the spinner below in which all regions are equal, which of the following point scales would result in a favorable game?

Two students devised a game called “3 Pennies & 2 Nickels.” Each player will choose to play the pennies or the nickels. In each round, the players will flip all their coins on the table and record how many heads and tails they have. The table below includes the point scheme.Point Values for “3 Pennies & 2 Nickels”Penny PointsNickel PointsAll pennies heads: –2Both nickels heads: –2At least one of each: +3One of each: +5All pennies tails: –2Both nickels tails: –2Alyssa wants to play the game. Choose the statement below that is correct in all aspects.

The marketing club at school is opening a student store. They randomly survey 50 students about how much money they spend on lunch each day. What is the expected value for a student to spend on lunch each day? Student Lunch SurveyNumber of StudentsDollars Spent on Lunch Each Day2 $101$812$623$58$44$3

Harlene tosses two number cubes. If a sum of 8 or 12 comes up, she gets 9 points. If not, she loses 2 points. What is the expected value of the number of points for one roll?

A math club is researching a golf tournament fund-raiser. It will cost $1,000 to host the tournament. If it rains, the club will lose the investment. If it is sunny, it is expected that the club will collect $4,500 from the participants. If the chance of rain is 20%, what is the expected value for the tournament?

A company makes a $5 profit on each non-faulty product it sells. Approximately 2% of the products manufactured are faulty, with no way to discover which ones are faulty before delivery. If replacement-and-repair costs for the faulty products are $100 each, what is the profit per item?

Johnny is challenged to a single-player game with an expected value of 1. Which statement below is true?

A charity is holding a raffle to raise money. There is one car worth $30,000 and five $100 gift cards being raffled off. Each ticket costs $20, and there are a total of 5,000 tickets being sold. Which equation correctly depicts the calculation of the expected value for a ticket?

If a raffle has a winning prize of $100 and each ticket costs $5 with a total of 500 tickets sold, which equation would calculate the expected value?

A trucking company operates in three regions of the country. The table below depicts the probability that each company truck is in the region and the fuel prices per gallon. What amount should the company budget on average for a gallon of fuel across its operations? Round your answer to the nearest cent.Probability and Fuel Cost by RegionRegionProbability in RegionFuel Cost per GallonSoutheast20%$3.10Southwest30%$3.50California50%$4.05