SOLUTION: In a game, you have a 1/20 probability of winning $115 and a 19/20 probability of losing $5. What is your expected value?
Algebra.Com
Question 881705: In a game, you have a 1/20 probability of winning $115 and a 19/20 probability of losing $5. What is your expected value?
Answer by ewatrrr(24785) (Show Source): You can put this solution on YOUR website!
E(in dollars) = (1/20)115 - (19/20)5
RELATED QUESTIONS
In a game you have 1/41 probability of winning $82 and
a 40/41 probability of losing... (answered by Edwin McCravy)
In a game, you have a 1/32 probability of winning $137 and a 31/32 probability of losing... (answered by Fombitz)
In a game, you have a 1/34 probability of winning $91 and a 33/34 probablility of losing... (answered by fractalier)
Please I need help with this question, and I would like to know how to do it with a TI-83 (answered by Edwin McCravy)
In a gambling game, you have a 1/100 chance of winning $48 and a 99/100 chance of
losing (answered by Edwin McCravy)
the probability of winning a game is 1/4, what is the probability of losing... (answered by Fombitz)
In a game, the probability of winning money is p = 0.16, the probability of losing money... (answered by Fombitz,ewatrrr)
If You play a game in which your chance of winning is 40 percent. You play a total of 13 (answered by Fombitz)
Supposed a certain game is fair and costs $5 if you lose and has a net payoff of $9 if... (answered by ikleyn)