Odds and Mathematical Expectation — Engineering Board Exam Practice Questions

4 free engineering board exam reviewer questions on Odds and Mathematical Expectation (Combinatorics and Probability), each with the correct answer and a worked solution.

1. If the probability of an event occurring is 3/8, what are the odds in favor of the event?
2. The odds against an event are 4 to 7. Find the probability that the event occurs.
3. A game pays P100 if you roll a 6 on a single die, and nothing otherwise. If it costs P20 to play, find the expected net gain or loss per…
4. In a raffle, 500 tickets are sold at P10 each for a single prize of P2000. Find the expected net value of a ticket to a buyer.