1. Which of the following represents the mean value of a discrete random variable? A. Expected value deviation B. Median C. Standard D. Variance
For numbers 2-3, refer to the table below: x 2 4 6 8 P(x) 0.12 0.29 0.24 0.35
2. Which of the following is the correct formula to find the expected value of the probability distribution? A. E(x) = {[x•P(x)] B. E(X) = 2132.P(x)] C. E(X) = 2172.P()]-u? D, E(X)=2132.P()] - 112
3. What is the mean or the expected value of the given probability distribution? A. 4.85 B. 5.64 C. 6.32 D. 7.12
For numbers 4-6, refer to the following: You buy one ₱500.00 raffle ticket for a prize of new Toyota Wigo car valued a 675. 000.00. Two thousand tickets are sold.
4. What is the probability that you will win the prize? A 1 B.¹/500 C.¹/2000 D. ¹/675000
5. If X denotes the net gain from the purchase of a randomly selected ticket. Which of the following tables of values shows the probability distribution of X?
A. X 675,000 -500 P(x) ¹/2000 1999/2000
B. X 675,000 500 P(x) ¹/2000 1999/2000
C.X 674,500 -500 P(x) ¹/2000 1999/2000
D. X 674,500 500 P(x) ¹/2000 1999/2000
6. What is the mean or the expected value for those who will buy the tickets? A. -162.50 B.-162.25 C. 162.25 D. 162.50
For numbers 7-8, refer to the following: One thousand tickets are sold for P10,00 each. One ticket will win 72,000.00, two tickets will um 1.000.00 each and four tickets will win P500.00 each.
7. What is the probability of winning any amount in the purchase of two tickets? A. ¹/1000 B. ²/1000 C. 5/1000 D. 7/1000
8. What is the probability of losing in the purchase of two tickets? A. ²/1000 B.500/1000 C. 998/1000 D. 999/1000
For numbers 9-11, refer to the following: A roulette wheel in a fiesta carnival has the numbers 1 through 50. If you bet P5.00, you will have a chance to win a litchen utensil worth ₱200.00.
9. If x denotes the net gain from taking a chance to bet on a randomly selected number. Which of the following tables of values shows the probability distribution of X? A. X 195 -5 P(x) ¹/50 49/50
B. X 5 -5 P(x) ¹/5 4/5
C. X 50 -5 P(x) ¹/200 199/200
D. X 200 5 P(x) ¹/200 5/200
10. What is the mean or the expected value for those who take a bet? A. - 1.8 B. -1 C. -0.95 D. -0.5
11. How much the organizer will earn if 100 games will be played such that each number has a bet of 15.00? A. ₱2,000.00 B. ₱3,000.00 C. ₱4,000.00 D. ₱5,000.00
For items 12-13, refer to the following: Good Hands is a car insurance company who offers to pay P600,000.00 if a car is destroyed beyond repair due to an accident. This insurance policy cost P25,000.00 per year and the probability that the company will need to pay the amount of insurance is 0.003
12. What is the probability that the company wil NOT pay any amount to its client within a year? A. 0.003 B. 0.250 C. 0.500 D. 0.997
13. What is the expected value of the insurance to its buyer? A. Each policyholder expects to lose ₱20,000.00 every year. B. Each policyholder expects to lose ₱22,500.00 every year. C. Each policyholder expects to lose ₱23,200.00 every year, D. Each policyholder expects to lose ₱25,000.00 every year
For items 14 to 15, refer to the following: A life insurance company will sell a P500,000.00 five-year term life insurance policy exclusive for police enforcers for a premium of ₱ 1,000.00. The chance that a police enforcer will survive in 5 years is 99.95%.
14. What is the probability that a police enforcer will not survive in five years? A. 0.05 B. 0.005 C. 0.005 D. 0.0005
15. What is the expected value to the company of a single policy? A. 550.00 B. 2650.00 C. P750.00 D. P850.00
