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Standards/Math/Mississippi/S-MD.5

S-MD.5

S-MD S-MD
S-MD.1
S-MD.2
S-MD.3
S-MD.4
S-MD.5
S-MD.5.aS-MD.5.b
S-MD.6
S-MD.7

Weigh the possible outcomes of a decision by assigning probabilities to payoff values and finding expected values.

S-MD.5.aFind the expected payoff for a game of chance. For example, find the expected winnings from a state lottery ticket or a game at a fast-food restaurant.S-MD.5.bEvaluate and compare strategies on the basis of expected values. For example, compare a high-deductible versus a low-deductible automobile insurance policy using various, but reasonable, chances of having a minor or a major accident.
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