4. Statistics and Probability

Expected Value — Quiz

Test your understanding of expected value with 5 practice questions.

Practice Questions

Question 1

What does the expected value of a random variable represent in the long run?

Question 2

A fair six-sided die is rolled once. What is the expected value of the number shown?

Question 3

A game gives a player $\$10$ with probability $0.2$ and $\$0$ otherwise. What is the expected value of the winnings?

Question 4

Which statement best describes a game with expected value $-\$1?

Question 5

A random variable $X$ takes values $2$ and $8$ with probabilities $0.75$ and $0.25$ respectively. What is $E(X)$?