document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=604734>Question 604734</A>: <I><SPAN STYLE=\"word-break: break-all;\"> For a certain game of chance, a player loses $3 with a probability of 0.3, breaks even with probability 0.3, gains $1 with probability 0.2, gains $2 with probability 0.1, and gains $3 with probability 0.1.\r<BR>\n" );
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document.write( ") A player plays the game of chance. What is the probability that a player will win some money? Show work.\r<BR>\n" );
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document.write( ") If the player plays the game many times, what is the player’s expectation? \r<BR>\n" );
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document.write( "That is, what is the expected value (mean) of the probability distribution? Show work. (You are welcome to use the extra column and/or row in the table to make it easier to show the computation.)\r<BR>\n" );
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document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #381372 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=381372\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> For a certain game of chance, a player loses $3 with a probability of 0.3, breaks even with probability 0.3, gains $1 with probability 0.2, gains $2 with probability 0.1, and gains $3 with probability 0.1. <BR>\n" );
document.write( ") A player plays the game of chance. What is the probability that a player will win some money? Show work.<BR>\n" );
document.write( "P(winning) = 0.2+0.1 = 0.3<BR>\n" );
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document.write( ") If the player plays the game many times, what is the player’s expectation? <BR>\n" );
document.write( "E(x) = -3*0.3 + 0*3 +1*0.2 + 2*0.1 + 3*0.1 <BR>\n" );
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document.write( "= -0.9 + 0 + 0.2 + 0.2 + 0.3<BR>\n" );
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document.write( "= -0.9 + 0.7<BR>\n" );
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document.write( "= -0.2<BR>\n" );
document.write( "Means the player can expect to lose 20 cents each time he plays the game.<BR>\n" );
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document.write( "cheers,<BR>\n" );
document.write( "Stan H.<BR>\n" );
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