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lesson 13
1 hour

Games of Chance and Expected Value


Description

When students are presented with a complete probability distribution for a given random variable (𝑋), they can calculate
the expected value, 𝐸(𝑋), of the random variable. 𝐸(𝑋) is obtained from the following formula:
𝐸(𝑋) = ∑(Value of 𝑥) ∙ (Probability of that value) = ∑(𝑋 ∙ Probability of 𝑋)

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Credits

From EngageNY.org of the New York State Education Department. Precalculus and Advanced Topics Module 5, Topic C, Lesson 13. Available from engageny.org/resource/precalculus-and-advanced-topics-module-5-topic-c-lesson-13; accessed 2015-05-29.
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