Student: Date: Probability: Expected Value Expected Allowance Yvonne gets $15 a week for allowance. She also loves to play basketball. Yvonne wants to convince her father to try something new with her allowance based on her basket-shooting talent, hoping that it will increase what she receives. Yvonne suggests that instead of getting $15, she attempt shooting baskets each week for her allowance. . If she misses the first basket, she gets only $5. If she makes (succeeds with) the first basket, she gets $15 and a chance to make another basket for an additional $10. Yvonne can make a basket 40% of the time 1. To help Yvonne's father decide whether to use the new allowance plan, find the probability of Yvonne making 0 baskets, I basket, and 2 baskets. Justify your reasoning with an appropriate model. 2. How many times in a year do you expect Yvonne to get $5? $15? $25? 3. How much allowance should Yvonne expect to receive in a year? 4. Should Yvonne's father accept the deal? Justify your reasoning. Yvonne practiced shooting baskets all year. She can now make a basket 60% of the time. Yvonne offers her father the same deal. 5. What is the probability of Yvonne making 0 baskets? 1 basket? 2 baskets? 6. How much money do you expect Yvonne to receive in a year? Charles A. Dana Center at The University of Texas at Austin Advanced Mathematical Decision Making (2010) Activity Sheet 10, 3 pages 25