Comparing Game Strategies Using Expected Values: Process & Examples


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What is game theory?

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1. What are expected values?

2. What is the chance of rolling a 3 on any given six-sided die?

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About This Quiz & Worksheet

There is a process for comparing game strategies using expected values, and this quiz/worksheet combo is helpful at assessing your knowledge of this process.

Quiz & Worksheet Goals

The goals of these tools are to assess your knowledge of:

  • Definition of game theory
  • Meaning of expected values
  • Chances of rolling a 3 on any given six-sided die
  • Benefits of insurance premiums vs. deductibles

Skills Practiced

  • Information recall - access the knowledge you have gained regarding the meaning of expected values
  • Knowledge application - use your knowledge to answer questions about rolling a 3 using a six-sided die
  • Interpreting information - verify that you can read information regarding game theory and its components and interpret it correctly

Additional Learning

The lesson called Comparing Game Strategies Using Expected Values: Process & Examples can help you expand on your knowledge of this topic. You can use this helpful lesson to complete these objectives:

  • Determine how to use expected values
  • Review examples of playing cards with changing percentages
  • Understand what game theory looks at