Question 8 First attempt

Back to assignments Responses Draw Hints Score

Ivy is in Las Vegas and bet on her favorite team, the Denver Dragons, to beat the Seattle Sea Turtles.
Report: Expected value 100%
If the Denver Dragons win, she will win 10 dollars. If the Seattle Sea Turtles win, she will lose 11 dollars (the extra dollar
is commission). Ivy estimates that there is a 50% chance of the Denver Dragons winning (there cannot be a tie). 1/4 Ivy estimates that there is a 50% chance that the Denver Dragons will win. If this happens, the
return is 10 dollars (her winnings).
1 this bet.
Find the expected return of placing
Incorrect 2 Incorrect 3 Correct
2/4 There is a 50% chance that the Seattle Sea Turtles win. In this case, the return is −11 dollars (the

dollars The expected value of a fair 6-sided die is 3.5.
Which of the following statements are true?
Choose all answers that apply:
Annie is participating in a winner-take-all Worldcost of of
Series the bet). X is a discrete random variable. The graph below
Poker tournament that costs 10 thousand dollars to X.
3/4 Let's multiply eachdefines
returnaby
probability distribution
its probability becausefor
expected return is the sum of all possible
enter. The prize for winning the tournament is 500
returns, each return multiplied by its probability.
thousand dollars. Annie estimates that there is a 0.5% What is the expected value of X ?
chance that she will win the tournament.
Return Probability Return ⋅ Probability

Find the expected value of entering the tournament Denver

for Dragons win 10 0.50 5
3.5 is one of the possible outcomes of Annie.
A Seattle Sea Turtles win −11 0.50 −5.5
rolling a fair 6-sided die.

thousand dollars 4/4 The expected return is 5 + (−5.5) = −0.5 dollars.

A fair 6-sided die is more likely to land on
B
the number 4 than the number 6.

If you rolled a fair 6-sided die a large

number of times, you should expect the
C
average of the numbers rolled to be about
3.5.

5 Incorrect

6 Correct
The expected value of the sum of two fair 6-sided dice is
7.
X is a discrete random variable. The table below defines
a probability distribution for X .
Which of the following statements are true?
4 Correct
Choose all answers that apply: What is the expected value of X ?
Alice is riding the train to her job in Paris, France. She
accidentally purchased a ticket for zone 4, but she is
No matter how many times you roll two fair
travelling to zone 5. She has decided to risk it and stay
on the train until zone 5 with the incorrect ticket. If the
6-sided dice, the average of the sum of the
A x P (X = x)
 transit authorities check tickets on the train, she will dice will be exactly 7. x P (X = x)
have to pay a fine. Question 8 First attempt
0 0.3
Alice estimates that there is a 5% chance that the B The sum of two fair 6-sided dice could be 5.
3 0.5
transit authorities will check tickets. The fine for having
Responses Draw Hints 7 0.1
Ivy is in Las Vegas and bet on her
the favorite
wrong ticket 300
team,isthe Denver
euros.Dragons, toshe
The ticket beat the Seattle Sea Turtles.
purchased
cost her 5 euros. If the first die lands on 4, the second die will
C 10 0.1
If the Denver Dragons win, she will win 10 dollars. If the Seattle Sea Turtles win, she will lose 11 dollars (the
always
extraland on 3.
dollar
is commission). Ivy estimates that
Findthere is a 50%
the total chance
expected costof
ofthe Denver
Alice's trainDragons
ride. winning (there cannot be a tie). 1/4 Ivy estimates that there is a 50% chance that the Denver Dragons will win. If this happens, the
return is 10 dollars
9 (her winnings). Correct
Find the expected return of placing this bet. euros
2/4 There is a 50% chance that the Seattle Sea Turtles win. In this case, the return is −11 dollars (the
cost of the bet). Anouk and Tessa are playing a game where a player flips
dollars a coin. If the coin lands on heads, the player receives 1
3/4 Let's multiply eachpoint.
return by its
If the probability
coin lands on because
tails, theexpected return2is the sum of all possible
player receives
returns, each return multiplied by its probability.
points.

Return
The expected Probability
value of points.⋅ Probability
a turn is 1.5Return
Denver Dragons win 10 0.50 5
8 Incorrect Which of the following statements are true?
Seattle Sea Turtles win −11 0.50 −5.5
Choose all answers that apply:
Ivy is in Las Vegas and bet on her favorite
4 / 4team,The
the
expected return is 5 + (−5.5) = −0.5 dollars.
Denver Dragons, to beat the Seattle Sea Turtles.
It is possible for a player to get 1.5 points
A
7 Correct If the Denver Dragons win, she will win 10 dollars. If the on a turn.
Seattle Sea Turtles win, she will lose 11 dollars (the extra
X is a discrete random variable. The graph below dollar is commission). Ivy estimates that there is a 50%
If they play a large number of turns, they
defines a probability distribution for X . chance of the Denver Dragons winning (there cannot be
B should expect to average about 1.5 points
a tie).
per turn.
What is the expected value of X ?
Find the expected return of placing this bet.
The total number of points from 2 turns
C
dollars must be exactly 3 points.

11 Incorrect
 In Las Vegas, a particular sports bet has about a 30% 12 Correct
Question 8
chance of winning.
If the bet wins, the bettor will win 15 First attempt
dollars. If the bet loses, the bettor will lose 10 dollars. X is a discrete random variable. The table below defines
10 Correct a probability distribution for X .
The expected return of placing one of these bets is Draw
Responses Hints
Ivy is in Las Vegas and bet on her favorite team, the Denver Dragons, to beat the Seattle Sea Turtles.
X is a discrete random variable. The graph below −2.50 dollars. What is the expected value of X ?
defines a probability distribution for X .
If the Denver Dragons win, she will win 10 dollars. If the Seattle Sea Turtles win, she will lose 11Which
dollarsof
(the
theextra dollarstatements are true?
following
is commission). Ivy estimates that there is a 50% chance of the Denver Dragons winning (there cannot be a tie). 1/4 Ivy estimates that there is a 50% chance that the Denver Dragons will win. If this happens, the
What is the expected value of X ? return is 10 dollars (her winnings).
Choose all answers that apply:
Find the expected return of placing this bet. x P (X = x)
2/4 There is a 50% chance that the Seattle Sea Turtles win. In this case, the return is −11 dollars (the
It is possible for a bettor to place 2 of cost
theseof the bet).
−7 0.2
dollars A
bets and win both of them. −3 0.1
3/4 Let's multiply each return by its probability because expected return is the sum of all possible
returns, each return 3multiplied0.4
by its probability.
If a bettor places a large number of these
B bets, they should expect to average a return 7 0.3
Return Probability Return ⋅ Probability
of about −2.50 dollars per bet.
Denver Dragons win 10 0.50 5
Seattle Sea Turtles win −11 0.50 −5.5
The average return per bet from 2 of these 15 Correct
C
bets must be exactly −2.50 dollars.
4/4 The expected return is 5 + (−5.5) = −0.5 dollars.
John just bought a brand new cell phone and is
considering buying a warranty. The warranty costs 200
euros and is worth 1000 euros if his phone breaks.
John
estimates that there is a 10% chance of his phone
breaking.

Find the expected value of buying the warranty.

13 Incorrect euros

Worldwide Oil Transport Incorporated is considering

hiring a small oil spill response team to follow one of
their ships from Alaska to Russia.
14 Incorrect

The oil spill response team would cost 50 thousand

A teetotum is a spinning top that has an equal
dollars but would save an estimated 2500 thousand
probability of landing on each side. The expected value
dollars in the event of an oil spill. The ship is estimated
of one spin of a 12-sided teetotum (labeled with the
to have a 1% chance of generating an oil spill.
numbers from 1 to 12) is 6.5.
Find the expected value of hiring the oil spill response
Which of the following statements are true?
team.

Choose all answers that apply:

thousand dollars

Th ld l d h b 10
 The teetotum could land on the number 10.
A
Question 8 First attempt

The teetotum is more likely to land on the

B
number 6 than any other number.
Responses Draw Hints
Ivy is in Las Vegas and bet on her favorite team, the Denver Dragons, to beat the Seattle Sea Turtles.

If the Denver Dragons win, she16will win 10 dollars. If the Seattle Sea Turtles win,Correct Noextra
she will lose 11 dollars (the matter how many times you spin the
dollar
is commission). Ivy estimates that there is a 50% chance of the Denver Dragons winning (there cannot teetotum,
C be a tie). the average number
1 /from
4 theIvy estimates that there is a 50% chance that the Denver Dragons will win. If this happens, the
spins will be exactly 6.5. return is 10 dollars (her winnings).
X is a discrete random variable. The graph below
Find the expected return of placing this bet.
defines a probability distribution for X . 2/4 There is a 50% chance that the Seattle Sea Turtles win. In this case, the return is −11 dollars (the
cost of the bet).
dollars
What is the expected value of X ?
3/4 Let's multiply each return by its probability because expected return is the sum of all possible
returns, each return multiplied by its probability.

Return Probability Return ⋅ Probability

Denver Dragons win 10 0.50 5

Seattle Sea Turtles win −11 0.50 −5.5

4/4 The expected return is 5 + (−5.5) = −0.5 dollars.