SOLUTION: In a certain game, there is a 0.7 probability that you win \$20 and 0.3 probability that you lose \$40. Find the expected value.

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 Question 605759: In a certain game, there is a 0.7 probability that you win \$20 and 0.3 probability that you lose \$40. Find the expected value.Found 2 solutions by mathie123, stanbon:Answer by mathie123(224)   (Show Source): You can put this solution on YOUR website!Expected Value is the sum of all the probabilities multiplied by the amount. So in our case: (I will let you do this calculation) Hopefully this helps! Answer by stanbon(57967)   (Show Source): You can put this solution on YOUR website! In a certain game, there is a 0.7 probability that you win \$20 and 0.3 probability that you lose \$40. Find the expected value. --------------- E(x) = 0.7*20 + 0.3*40 = 14+12 = \$26.00 ======================================== Cheers, Stan H.