SOLUTION: Sorry but i really need help again: Efren pays $80 to play a game of chance. In an urn containing 12 balls,4 black,5 are blue and the rest are green. He draws one ball from the ur

Algebra ->  Probability-and-statistics -> SOLUTION: Sorry but i really need help again: Efren pays $80 to play a game of chance. In an urn containing 12 balls,4 black,5 are blue and the rest are green. He draws one ball from the ur      Log On


   

Question 1061778: Sorry but i really need help again: Efren pays $80 to play a game of chance. In an urn containing 12 balls,4 black,5 are blue and the rest are green. He draws one ball from the urn. He will win $140 if he draws a black ball and he will win $120 if he draws a green ball. How much does Efren expect to win or lose if he plays this game 100 times?
Answer by Fombitz(32388) About Me  (Show Source):
You can put this solution on YOUR website!
P%28Black%29=4%2F12=1%2F3
P%28Blue%29=5%2F12
P%28Green%29=%2812-5-4%29%2F12=3%2F12=1%2F4
So then,
E=140%2A%281%2F3%29%2B120%2A%281%2F4%29%2B0%2A%285%2F12%29-80
E=140%2F3%2B30-50
E=80%2F3
So then for 100 times,
W=100%2880%2F3%29=8000%2F3