edithacuna12oyv95t edithacuna12oyv95t
  • 04-11-2017
  • Mathematics
contestada

In a game, you have a 1/36 probability of winning $85 and a 35/36 probability of losing $4. What is your expected value?

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ninay03ovv36g
ninay03ovv36g ninay03ovv36g
  • 04-11-2017
The expected value 4
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Rod44 Rod44
  • 04-11-2017
In 36 games you would win 1 and lose 35, so the total of all outcomes is 85-4×35=85-140=-55.
The expected value is the mean of these=-55/36=a loss of $1.53.
Answer Link

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