document.write( "Question 1185796: In a gambling game, you have a 1/100 chance of winning $48 and a 99/100 chance of
\n" );
document.write( "losing $2. What is your expected payoff for a single play of this game? \n" );
document.write( "
Algebra.Com's Answer #816633 by Edwin McCravy(20060)![]() ![]() You can put this solution on YOUR website! \r\n" ); document.write( "\r\n" ); document.write( "(1/100)(+$48) + (99/100)(-$2) =\r\n" ); document.write( "\r\n" ); document.write( "-$1.50\r\n" ); document.write( "\r\n" ); document.write( "If you played the game many times you'd average losing a buck and a half per game.\r\n" ); document.write( "\r\n" ); document.write( "Edwin\n" ); document.write( " |