3.1.3 Exam Question Type 3
These kinds of questions ask you to calculate expected value using probabilities and a bunch of outcomes. Things get further tricky with the use of monetary values where each outcome results in some financial gain or loss.
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Relevant Past Exam Questions
The following are relevant past exam questions:
(Note: The links will direct you to relevant question in the file on PC only NOT mobile)
Check out the videos below relevant to these questions.
The past questions above cover most ways expected value questions can be asked. They can be made tricky by combining other question types to make a longer question where calculating expected value is one part of it.