1. In a lottery game, a player picks six numbers from 1 to 25. If the player matches all six numbers, they win 50,000 dollars. Otherwise, they lose $1. What is the expected value of this game?_____________

2. A bag contains 2 gold marbles, 8 silver marbles, and 23 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1 What is your expected value if you play this game?_______________

3. Kyd and North are playing a game. Kyd selects one card from a standard 52-card deck. If Kyd selects a face card (Jack, Queen, or King), North pays him $4. If Kyd selects any other type of card, he pays North $3. What is Kyd's expected value for this game? Round your answer to the nearest cent. $_________ What is North's expected value for this game? Round your answer to the nearest cent. $__________

4. A person must pay $$10 to play a certain game at the casino. Each player has a probability of 0.01 of winning $$14, for a net gain of $$4 (the net gain is the amount won 14 minus the cost of playing 10). Each player has a probability of 0.99 of losing the game, for a net loss of $$10 (the net loss is simply the cost of playing since nothing else is lost). What is the Expected Value for the player (that is, the mean of the probabiltiy distribution)? If the Expected Value is negative, be sure to include the "-" sign with the answer. Express the answer with two decimal places. Expected Value = $ __________________? If a person plays this game a very large number of times over the years, do we expect him/her to come out financially ahead or behind?

• behind
• ahead