Tag | Value |
---|---|
file | Probability_uva-expected-value-1048-en_uva-expected-value-1048-en |
name | uva-expected-value-1048-en |
section | Probability/Elementary Probability/Random variables/Expected value |
type | schoice |
solution | FALSE, TRUE, FALSE, FALSE |
Type | Conceptual |
Language | English |
Level | Statistical Literacy |
IRT-Difficulty | 1.266 |
p-value | 0.8767 |
A lottery sells 10,000 lottery tickets. Each ticket costs 1 euro, but if you wins, you get a motorcycle worth 5,000 euros. If you buy three tickets buy, what is the expected profit (or loss)?