Exam 1

1. Metainformation

   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

   Question

   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)?

   
   
   1. FALSE: 1 euro
   2. TRUE: 1.5 euros
   3. FALSE: 2 euros
   4. FALSE: 3.5 euros
   
   
   1. 1 euro: Incorrect
   2. 1.5 euros: Correct
   3. 2 euros: Incorrect
   4. 3.5 euros: Incorrect