document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=231993>Question 231993</A>: <I><SPAN STYLE=\"word-break: break-all;\"> When you place a $5. bet at the casino, there is a 244 in 495 probability you will win $5.  and a 251 in 495 probability you will lose $5.  What is your expected value?  I don't understand this. </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #171547 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=171547\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> When you place a $5. bet at the casino, there is a 244 in 495 probability you will win $5. and a 251 in 495 probability you will lose $5. What is your expected value? I don't understand this.<BR>\n" );
document.write( "----------------------<BR>\n" );
document.write( "Let the random variable \"x\" represent the players gain.<BR>\n" );
document.write( "---<BR>\n" );
document.write( "Random number values are 5 and -5<BR>\n" );
document.write( "Corresponding probabilities are (244/495) and 251/495<BR>\n" );
document.write( "============================<BR>\n" );
document.write( "E(x) = (244/485)*5 + (251/495)(-5)<BR>\n" );
document.write( "E(x) = 2.46 - 2.54<BR>\n" );
document.write( "E(x) = -7.5 cents<BR>\n" );
document.write( "-----<BR>\n" );
document.write( "You can expect to lose 75 cents each time you place a bet.<BR>\n" );
document.write( "===============================================================<BR>\n" );
document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
document.write( "</TD></TR></TABLE>\n" );