SOLUTION: There are so many variables in this problem can you help me set it up and find the solution. Thanks, Consider the following game: The player hands $1 to the Keeper. The p

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Question 1040528: There are so many variables in this problem can you help me set it up and find the solution.
Thanks,


Consider the following game: The player hands $1 to the Keeper. The probability that the Keeper returns $4 to the player is . The probability that the Keeper returns $3 to the player is . The probability that the Keeper returns $2 to the player is . The only other outcome is for the Keeper to simply keep the initial dollar and return nothing. What is the expected value for this game?

$0.50.
$1.42.
-$0.50
$0.96
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
What are the probabilities that you did not post?
Please repost your problem.
Cheers,
Stan H.