MA.912.DP.6.7
Weigh the possible outcomes of a decision by assigning probabilities to payoff values and finding expected values and standard deviations. Evaluate and compare strategies on the basis of the calculated expected values and standard deviations.
Example Problems
A fair coin is flipped 5 times. Let be the number of heads. What is the expected value of ?
In a game you roll a fair six-sided die. You receive (3 times the number showing) dollars minus 5 dollars. What is the expected payout?
A photocopier has a chance of breaking this month, which would cost to repair; otherwise, there is no repair cost. What is the expected repair cost for the month?

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