M.4HSTP.36.a
Find the expected payoff for a game of chance. (e.g., Find the expected winnings from a state lottery ticket or a game at a fast food restaurant.)
Example Problems
A simple coin‑flip wager costs $5 to play. If the coin lands heads, the player receives $12 (net gain +$7); if it lands tails, the player receives nothing (net gain –$5).
Let represent the player's net gain on one flip.
Calculate the expected net gain .
Let represent the player's net gain on one flip.
Calculate the expected net gain .
A charity conducts a raffle selling exactly 1,000 tickets at $5 each. Prizes are allocated as follows: one $1,000 prize, ten $50 prizes, and twenty $20 prizes. Each ticket can win at most one prize.
Let represent the net gain for a person holding a single ticket (remember to subtract the $5 ticket cost).
Calculate the expected net gain .
Let represent the net gain for a person holding a single ticket (remember to subtract the $5 ticket cost).
Calculate the expected net gain .
A carnival booth offers a card‑draw game. A player pays and draws one card at random from a standard 52‑card deck:
• Drawing an Ace wins .
• Drawing any face card (Jack, Queen, or King) wins .
• All other cards win nothing.
Let represent the player's net gain on one draw.
Calculate the expected net gain .
• Drawing an Ace wins .
• Drawing any face card (Jack, Queen, or King) wins .
• All other cards win nothing.
Let represent the player's net gain on one draw.
Calculate the expected net gain .
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