Probability

Hong Kong

Stage 1 - Stage 3

What is the expected value of an experiment ?

The sum of the probabilities of all the possible events in an experiment.

A

The sum of all the amounts gained and lost from each possible event occurring in an experiment.

B

The expected gain or loss of an experiment over the long run.

C

Easy

Less than a minute

Complete the following sentences.

The expected value of a game is $-\$3.50$−$3.50 and the cost to play the game is $\$10.00$$10.00.

What is the fair price to play the game?

The expected value of a game is $-\$4.00$−$4.00 and the cost to play the game is $\$5.00$$5.00.

What is the fair price to play the game?

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