SOLUTION: In a certain game, the probability of winning is 0.3 and the probability of losing is 0.7. If the player loses, the player loses $5. If the player wins, he/she will collect $55. Fi

SOLUTION: In a certain game, the probability of winning is 0.3 and the probability of losing is 0.7. If the player loses, the player loses $5. If the player wins, he/she will collect $55. Fi

Algebra.Com

Question 876236: In a certain game, the probability of winning is 0.3 and the probability of losing is 0.7. If the player loses, the player loses $5. If the player wins, he/she will collect $55. Find the expected value of this game.
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
E = .3($55) - .7($5) = $13
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