SOLUTION: A bag contains 2 gold marbles, 6 silver marbles, and 30 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If
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Question 1110748: A bag contains 2 gold marbles, 6 silver marbles, and 30 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1.
What is your expected value if you play this game?
Answer by jorel1380(3719) (Show Source): You can put this solution on YOUR website!
Altogether, you have 38 marbles. So, the expected value would be:
(3 x 2/38)+(2 x 6/38)-(1 x 30/38)=$-12/38, or a loss of 32 cents
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