Expected Value For a Game of Chance - By PatrickJMT
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DESCRIPTION:
In this video, I show the formula of expected value, and compute the expected value of a game. The final answer represents the net transaction to you!! It means you can expect to be $0.875 richer than before you played the game, on average! For more free math videos, visit http://JustMathTutoring.com
OVERVIEW:
Expected Value For a Game of Chance is a free educational video by PatrickJMT.It helps students in grades HS practice the following standards HSS.MD.A.2,HSS.MD.A.3,HSS.MD.B.5.
This page not only allows students and teachers view Expected Value For a Game of Chance but also find engaging Sample Questions, Apps, Pins, Worksheets, Books related to the following topics.
1. HSS.MD.A.2 : Calculate the expected value of a random variable; interpret it as the mean of the probability distribution..
2. HSS.MD.A.3 : Develop a probability distribution for a random variable defined for a sample space in which theoretical probabilities can be calculated; find the expected value. For example, find the theoretical probability distribution for the number of correct answers obtained by guessing on all five questions of a multiple-choice test where each question has four choices, and find the expected grade under various grading schemes..
3. HSS.MD.B.5 : Weigh the possible outcomes of a decision by assigning probabilities to payoff values and finding expected values.
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