Common Core Math
High School: Statistics & Probability: Using Probability to Make Decisions
Define a random variable for a quantity of interest by assigning a numerical value to each event in a sample space; graph the corresponding probability distribution using the same graphical displays as for data distributions.
Calculate the expected value of a random variable; interpret it as the mean of the probability distribution.
Develop a probability distribution for a random variable defined for a sample space in which theoretical probabilities can be calculated; find the expected value.
Develop a probability distribution for a random variable defined for a sample space in which probabilities are assigned empirically; find the expected value.
Weigh the possible outcomes of a decision by assigning probabilities to payoff values and finding expected values.
Find the expected payoff for a game of chance.
Use probabilities to make fair decisions.