# 4.2.5 How much can I expect to win?

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1 4..5 How much can I expect to win? Expected Value Different cultures have developed creative forms of games of chance. For example, native Hawaiians play a game called Konane, which uses markers and a board and is similar to checkers. Native Americans play a game called To-pe-di, in which tossed sticks determine how many points a player receives. When designing a game of chance, attention must be given to make sure the game is fair. If the game is not fair, or if there is not a reasonable chance that someone can win, no one will play the game. In addition, if the game has prizes involved, care needs to be taken so that prizes will be distributed based on their availability. In other words, if you only want to give away one grand prize, you want to make sure the game is not set up so that 0 people win the grand prize! Today your team will analyze different games to learn about expected value, which helps to predict the result of a game of chance TAKE A SPIN Consider the following game: After you spin the wheel at right, you win the amount spun. a. If you play the game 0 times, how much money would you expect to win? What if you played the game 30 times? 00 times? Explain your process. \$0 \$4 b. What if you played the game n times? Write an equation for how much money someone can expect to win after playing the game n times. c. If you were to play only once, what would you expect to earn according to your equation in part (b)? Is it actually possible to win that amount? Explain why or why not. Statistics Supplement (from Core Connections Geometry/Integrated I) 33 CPM Educational Program

2 4-0. What if the spinner looks like the one at right instead? a. If you win the amount that comes up on each spin, how much would you expect to win after 4 spins? What about after 00 spins? \$4 0 \$00 b. Find this spinner s expected value. That is, what is the expected amount you will win for each spin? Be ready to justify your answer. c. Gustavo describes his thinking this way: Half the time, I ll earn nothing. One-fourth the time, I ll earn \$4 and the other one-fourth of the time I ll earn \$00. So, for one spin, I can expect to win (0) + 4 (\$4) + 4 (\$00). Calculate Gustavo s expression. Does his result match your result from part (b)? Jesse has created the spinner at right. This time, if you land on a positive number, you win that amount of money. However, if you land on a negative number, you lose that amount of money! Want to try it? a. Before analyzing the spinner, predict whether a person would win money or lose money after many spins b. Now calculate the actual expected value. How does the result compare to your estimate from part (a)? c. What would the expected value be if this spinner were fair? Discuss this with your team. What does it mean for a spinner to be fair? d. How could you change the spinner to make it fair? Draw your new spinner and show why it is fair. Statistics Supplement (from Core Connections Geometry/Integrated I) 34 CPM Educational Program

3 4-04. DOUBLE SPIN Double Spin is a new game. The player gets to spin a spinner twice, but wins only if the same amount comes up both times. The \$00 sector is 8 of the circle. \$00 \$0 \$ \$5 a. Use an area model or tree diagram to show the sample space and probability of each outcome of two spins and then answer the following questions. b. What is the expected value when playing this game? That is, what is the average amount of money the carnival should expect to pay to players each turn over a long period of time? c. If it costs \$3.00 for you to play this game, should you expect to break even in the long run? d. Is this game fair? BASKETBALL: Shooting One-and-One Free Throws Revisited Recall the One-and-One situation from problem In this problem, Dunkin Delilah Jones has a 60% free throw average. a. Use an appropriate model to represent the sample space and then find what would be the most likely result when she shoots a one-and-one. b. Is it more likely that Delilah would make no points or that she would score some points? Explain. c. On average, how many points would you expect Dunkin Delilah to make in a one and one free throw situation? That is, what is the expected value? d. Repeat part (a) for at least three other possible free throw percentages, making a note of the most likely outcome for each one. e. Is there a free throw percentage that would make two points and zero points equally likely outcomes? If so, find this percentage. f. If you did not already do so, draw an area model or tree diagram for part (e) using x as the percentage and write an equation to represent the problem. Write the solution to the equation in simplest radical form Statistics Supplement (from Core Connections Geometry/Integrated I) 35 CPM Educational Program

5 4-09. Revisit your work from part (c) of problem a. To solve for x, Julia wrote the equation: Explain how her equation works (9) (8) ( 3) x = 3 b. She is not sure how to solve her equation. She would like to rewrite the equation so that it does not have any fractions. What could she do to both sides of the equation to eliminate the fractions? Rewrite her equation and solve for x. c. If you have not done so already, write an equation and solve for x for parts (a) and (b) of problem Did your answers match those you found in problem 4-08? ETHODS AND MEANINGS MATH NOTES Expected Value The amount you would expect to win (or lose) per game after playing a game of chance many times is called the expected value. This value does not need to be a possible outcome of a single game, but instead reflects an average amount that will be won or lost per game. For example, the \$9 portion of the spinner at right makes up = of the spinner, while the \$4 portion is the \$4 \$9 rest, or, of the spinner. If the spinner was spun times, probability predicts that it would land on \$9 once and \$4 eleven times. Therefore, someone spinning times would expect to receive (\$9) +(\$4) = \$53. On average, each spin would \$53 earn an expected value of spins \$4.4 per spin. You could use this value to predict the result for any number of spins. For example, if you play 30 times, you would expect to win 30(\$4.4) = \$ Another way to calculate expected value involves the probability of each possible outcome. Since \$9 is expected of the time, and \$4 is expected of the time, then the expected value can be calculated with the expression (\$9)( ) + (\$4)( ) = \$53 \$4.4. A fair game is one in which the expected value is zero. Neither player expects to win or lose if the game is played numerous times. Statistics Supplement (from Core Connections Geometry/Integrated I) 37 CPM Educational Program

6 4-0. When he was in first grade, Harvey played games with spinners. One game he especially liked had two spinners and several markers that you moved around a board. Green You were only allowed to Purple Yellow Green Purple move if your color came Yellow up on both spinners. a. Harvey always chose purple because that was his favorite color. What was the probability that Harvey could move his marker? b. Is the event that Harvey wins a union or an intersection of events? c. Was purple the best color choice? Explain. d. If both spinners are spun, what is the probability that no one gets to move because the two colors are not the same? e. There are at least two ways to figure out part (d). Discuss your solution method with your team and show a second way to solve part (d) Avery has been learning to play some new card games and is curious about the probabilities of being dealt different cards from a standard 5-card deck. Help him figure out the probabilities listed below. a. What are P(king), P(queen), and P(club)? b. What is P(king or club)? How does your answer relate to the probabilities you calculated in part (a)? c. What is P(king or queen)? Again, how does your answer relate to the probabilities you calculated in part (a)? d. What is the probability of not getting a face card? Jacks, queens, and kings are face cards. Statistics Supplement (from Core Connections Geometry/Integrated I) 38 CPM Educational Program

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