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Law of Large Numbers and Expected Value
Law of Large Numbers and Expected Value
Question 1
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Choose the correct answer.
Iman is considering investing AED 1,000 in two different investment funds. The expected
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rates of return and the probabilities of those returns are shown.
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Fund A Fund B
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50% chance of AED 400 profit 30% chance of AED 300 profit
30% chance of AED 200 profit 40% chance of AED 100 profit
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15% chance of AED 20 loss 25% chance of AED 95 loss
5% chance of AED 100 loss 5% chance of AED 30 loss
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Compare the two investments using the expected value and standard deviation. Choose the
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statement that is the correct recommendation for Iman.
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deviation
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Fund A because it has a lesser expected value and greater standard deviation
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Fund B because it has a greater expected value and similar standard deviation
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Fund A because it has a greater expected value and similar standard deviation
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Question 2
Fill in the blanks with the correct answer.
Fatima wins a contest and gets to choose a ticket. The ticket determines the number of
prizes Fatima will receive. The table shows the probability of winning a given number of
prizes.
The expected value of the prizes is 4.8. Calculate the standard deviation. Round the standard
deviation to the neareast hundredth.
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Probability,
Number of Prizes, X
P (X )
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1 40% or 0.4
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4 30% or 0.3
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10 20% or 0.2
12 10% or 0.1
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Drag and drop your answers to correctly complete the sentence.
Question 3
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Omar gets to spin to win tickets for prizes at an amusement park. The spin determines the
number of tickets Omar will receive. The table shows the probability of winning a given
number of tickets.
The expected value of the tickets is 16. Calculate the standard deviation. Round the standard
deviation to the neareast hundredth.
Probability,
Number of Tickets, X
P (X )
8 50% or 0.5
20 35% or 0.35
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30 10% or 0.10
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40 5% or 0.05
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The standard deviation is about 9.27 .
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Question 4
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Hassan wins a contest and gets to choose a ticket. The ticket determines the number of
prizes Hassan will receive. The table shows the probability of winning a given number of
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prizes.
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The expected value of the prizes is 3.15. Calculate the standard deviation. Round the
standard deviation to the nearest hundredth.
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Probability,
Number of Prizes, X
P (X )
2 55% or 0.55
4 25% or 0.25
5 15% or 0.15
6 5% or 0.05
Drag and drop your answer to correctly complete the sentence.
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The standard deviation is about 1.35 .
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Question 5
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number of tickets.
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Probability,
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Number of Tickets, X
P (X )
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5 40% or 0.4
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10 30% or 0.3
15 20% or 0.2
20 10% or 0.1
Drag and drop your answer to correctly complete the sentence.
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2 0 10
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Question 6
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Fill in the blanks with the correct answer.
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Fadil wins a contest and gets to choose a ticket. The ticket determines the number of prizes
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Fadil will receive. The table shows the probability of winning a given number of prizes.
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, of the prizes is 1.5. Calculate the standard deviation. Round the standard deviation to the
nearest hundredth.
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Probability,
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Number of Prizes, X
P (X )
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1 70% or 0.7
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2 25% or 0.25
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5 4% or 0.04
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10 1% or 0.01
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Drag and drop your answer to correctly complete the sentence.
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Question 7
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Fill in the blanks with the correct answer.
A department store offers customers a chance to win reward points on special occasions.
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The customer chooses a door on the website. Behind each door is a certain number of reward
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points. The table shows the probability of receiving each amount of reward points.
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25 40% 6U
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50 20%
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100 25%
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200 15%
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Use the table to calculate the expected value of the reward points.
Enter your answer in the space provided.
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Question 8
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5 80%
50 10%
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100 8%
200 2%
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Use the table to calculate the expected value of the number of tickets.
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The expected value of the number of tickets is 21 .
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Question 9
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number of beads. The table shows the probability of receiving each number of beads.
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5 60%
25 20%
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40 15%
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160 5%
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Use the table to calculate the expected value of the number of beads.
Enter your answer in the space provided.
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Fill in the blanks with the correct answer.
At an amusement park, included in the entry fee, you get to pick a plastic duck with a hidden
number on it. The number tells you how many tickets you won. You can use the tickets to
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play games throughout the park. The table shows the probability of receiving each amount of
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tickets.
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Number
of Probability
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Tickets
5
50%
20%
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20 15%
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30 10%
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40 5%
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Use the table to calculate the expected value of the number of tickets.
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Question 11
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0 50%
1000 20%
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5000 15%
10,000 10%
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100,000 5%
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Use the table to calculate the expected value of the bonus points.
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Enter your answer in the space provided.
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The expected value of the bonus points is 6950 .
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Question 12
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Afia is considering investing AED 10,000 in two different investment funds. The expected
rates of return and the probabilities of those returns are shown.
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Fund A Fund B
50% chance of AED 2000 profit 10% chance of AED 4000 profit
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40% chance of AED 1500 profit 50% chance of AED 1000 profit
8% chance of AED 50 loss 25% chance of AED 500 loss
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Compare the two investments using the expected value and standard deviation. Choose the
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Fund A because it has a greater expected value and lesser standard deviation
Fund B because it has a greater expected value and lesser standard deviation
Fund A because it has a lesser expected value and greater standard deviation
Fund B because it has a lesser expected value and greater standard deviation
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Question 13
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Choose the correct answer.
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Nada is considering investing AED 8,000 in two different investment funds. The expected
rates of return and the probabilities of those returns are shown.
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Fund A Fund B
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Compare the two investments using the expected value and standard deviation. Choose the
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Fund B because it has a greater expected value and similar standard deviation
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Fund A because it has a greater expected value and similar standard deviation
Fund B because it has a lesser expected value and greater standard deviation
Fund A because it has a lesser expected value and greater standard deviation
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Question 14
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Choose the correct answer.
Salim is considering investing AED 20,000 in two different investment funds. The expected
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Fund A Fund B
60% chance of AED 4000 profit 30% chance of AED 4000 profit
25% chance of AED 5000 profit
10% chance of AED 800 loss 6U
50% chance of AED 3000 profit
15% chance of AED 400 loss
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5% chance of AED 600 loss 5% chance of AED 900 loss
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Compare the two investments using the expected value and standard deviation. Choose the
statement that is the correct recommendation for Salim.
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Fund B because it has a greater expected value and similar standard deviation
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Fund A because it has a lesser expected value and greater standard deviation
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Fund B because it has a lesser expected value and greater standard deviation
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Fund A because it has a greater expected value and similar standard deviation
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Question 15
Choose the correct answer.
Muhammad is considering investing AED 5,000 in two different investment funds. The
expected rates of return and the probabilities of those returns are shown.
Fund A Fund B
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25% chance of AED 800 profit 30% chance of AED 900 profit
40% chance of AED 300 profit 40% chance of AED 600 profit
20% chance of AED 200 loss 25% chance of AED 100 loss
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15% chance of AED 100 loss 5% chance of AED 200 loss
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Compare the two investments using the expected value and standard deviation. Choose the
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statement that is the correct recommendation for Muhammad.
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Fund A because it has a lesser expected value and greater standard deviation
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Fund B because it has a lesser expected value and greater standard deviation
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Fund B because it has a greater expected value and similar standard deviation
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Fund A because it has a greater expected value and similar standard deviation
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