What do cell phone insurance, auto insurance, and the lottery all have in common? Well, your personal finances, for one, and the probability concept of expected value for the other! This three-tiered application problem set can be used to differentiate or scaffold the learning. Level 1 -- Help Hira decide if a $180 premium is worth it for her new $700 phone using expected value for mutually exclusive events Level 2 -- Read actuarial values from a table to determine likelihood and cost of car