Carnival Game Tycoon Lecture Notes: Lesson 5						Name:__________________
Delta College STEM Explorer									Hour:______

I.	Expected Values
A.	Defined:  The _____________________ of a game is sum of all of the ___________of each value of each outcome and the corresponding probability of that outcome.

B.	Formula:  ______________________________________until ______outcomes are accounted for

1.	X= the ____________ of the outcome
2.	P= the ________________of the outcome

C.	Application to Games:

1.	Knowing the Expected Value is important for planning ______________ games or determining if games are worth __________________.

2.	Example “Spinner Game”

3.	Use of _____________

4.	Solving for E (Expected Value):

5.	______________ of the Expected Value #:  In this scenario, the Expected Value of _______ means that you can ______________ to win        on average $.875 per __________________.  This is a ___________ game for the player and a _________ game for the house.