SOLUTION: In a game you have 1/41 probability of winning $82 and a 40/41 probability of losing $5. What is your expected value?

Question 1056837: In a game you have 1/41 probability of winning $82 and
a 40/41 probability of losing $5. What is your expected
value?
Answer by Edwin McCravy(20054) (Show Source): You can put this solution on YOUR website!


In a game you have 1/41 probability of winning $82 and 
a 40/41 probability of losing $5. What is your expected 
value?



This means that if you played the game many times,
you would expect to average losing about $2.88 per game.  
You'd lose $5.00 a lots more often than you'd win $82.

Edwin

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