Math Mod Unit 5 Lesson 6

What is the formula for the expected value or mean probability?

μ=∑[X⋅P(X)]

1,000 raffle tickets were sold. There will be one first prize of $1,000 and one second prize of $500. The rest of the tickets will win nothing. Use the chart to calculate the expected value.

$1.50

600 raffle tickets were sold. There will be one first prize of $500 and three second prizes of $200. The rest of the tickets will win nothing. Use the chart to calculate the expected value.

$1.83

A spinner has the following outcomes and probabilities. Find the expected value. Outcome = X 1 , 2 , 3 , 4 , 5 Probability = P(X) 1/4, 1/3, 1/6, 1/5, 1/20

2 7/15

A spinner has the following outcomes and probabilities. Find the expected value. Outcome = X12345 Probability = P(X) 1/5, 1/5, 1/5, 1/5, 1/5

3

For a couple with three children, find the mean of the number of children who will be boys by completing the table and calculating.

Number of boys # = 3 ,2 ,2 ,1, 2, 1, 1, 0 Probability = P(X) 1/8, 1/8, 1/8, 1/8, 1/8, 1/8, 1/8, 1/8 Mean = 1 1/2