Example: The daily lottery costs $1 to play. You pick a 3-digit number. If you win, you win $500. Find theexpected value of the lottery and the standard deviation.Example: A pair of dice is rolled. Depending on the sum of the dots on both dice, Cole can win or lose moneyas shown in the following chart. Should Cole play the game? Explain your answer.Sum of DotsOutcome6 or 8 or 9win $6lose $4win $72 or 4 or 5103 or 127 or 11win $5lose $1Calculator:Enter the values into list 1 and the probabilities in list 2.Run 1-Var-Stat L1, L2 to get the expected value and standard deviation.On the newer calculators, L1 will go in your “List" and L2 will go in your "Freq"

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Example: The daily lottery costs $1 to play. You pick a 3-digit number. If you win, you win $500. Find the expected value of the lottery and the standard deviation.

Glencoe Algebra 1, Student Edition, 9780079039897, 0079039898, 2018

18th Edition

ISBN:9780079039897

Author:Carter

Publisher:Carter

Chapter10: Statistics

Section10.5: Comparing Sets Of Data

Problem 20PPS

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Question

Example: The daily lottery costs $1 to play. You pick a 3-digit number. If you win, you win $500. Find the
expected value of the lottery and the standard deviation.
Example: A pair of dice is rolled. Depending on the sum of the dots on both dice, Cole can win or lose money
as shown in the following chart. Should Cole play the game? Explain your answer.
Sum of Dots
Outcome
6 or 8 or 9
win $6
lose $4
win $7
2 or 4 or 5
10
3 or 12
7 or 11
win $5
lose $1
Calculator:
Enter the values into list 1 and the probabilities in list 2.
Run 1-Var-Stat L1, L2 to get the expected value and standard deviation.
On the newer calculators, L1 will go in your “List" and L2 will go in your "Freq"

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