7C Worksheet PDF

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7C Worksheet 1. Four $1 bills, three $5 bills, two $20 bills and one $100 bill are placed in a bag. What is the expected value of drawing one bill at random from the bag?

answer: 15.9

2. A lottery costs $1 to enter. 1 in 5 tickets wins $1, 1 in 100 tickets wins $5, 1 in 100,000 tickets wins $1,000 and 1 in 10 million tickets wins $1 million. What is the expected value of buying a ticket?

answer: 1/5 x 1 + 1/100 x 5 + 1/100000 x 1000 + 1/10000000 x 1000000(-1)

3. A game consists of drawing a single card from a standard 52-card deck. A player receives 40¢ for a heart and 50¢ for an ace (90¢ for the ace of hearts). If the cost of a draw is 15¢, should a person play the game? Explain.

answer: 13.85>15 , you should not play the game because the expected value is less than the price you pay

4. If you rolled a die 100 times, about how many 3s would you expect to get? 17...