Exam 1

  1. Metainformation

    Tag Value
    fileProbability_uva-rules-for-expected-values-38-en_uva-rules-for-expected-values-38-en
    nameuva-rules-for-expected-values-38-en
    sectionProbability/Elementary Probability/Random variables/Rules for expected values
    typeschoice
    solutionTRUE, FALSE, FALSE
    TypeConceptual
    LanguageEnglish
    LevelStatistical Literacy
    IRT-Difficulty2
    p-value0.5905

    Question

    Which of the following bets makes the most money in the long run?


    1. TRUE: 0.90 chance of 10 euros, 0.05 chance of 50 euros and 0.05 chance of 5 euros loss.
    2. FALSE: 0.90 chance of 5 euros, 0.05 chance of 100 euros and 0.05 chance of 100 euros loss.
    3. FALSE: 0.90 chance of 0 euros, 0.05 chance of 250 euros and 0.05 chance of 250 euros loss.

    1. 0.90 chance of 10 euros, 0.05 chance of 50 euros and 0.05 chance of 5 euros loss…: Correct
    2. 0.90 chance of 5 euros, 0.05 chance of 100 euros and 0.05 chance of 100 euros loss…: Incorrect
    3. 0.90 chance of 0 euro, 0.05 chance of 250 euro and 0.05 chance of 250 euro loss…: Incorrect