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Exercise 1

Avg difficulty 2.5

A bag contains 3 gold marbles, 6 silver marbles, and 28 black marbles. Someone offers to play this game: You randomly select on marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1.

  1. Make a probability model for this game.

  2. What is your expected value if you play this game?

Lee et al., Math in Society, §4.3 Expected Value, Exercise 1

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Adapted from Math in Society © 2018–2024 Portland Community College Math Instructors. Licensed under CC BY-SA 4.0. Source: Math in Society. Imported at revision 68ee43c.