SOLUTION: A bag contains 1 gold marbles, 6 silver marbles, and 25 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If

Algebra ->  Probability-and-statistics -> SOLUTION: A bag contains 1 gold marbles, 6 silver marbles, and 25 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If       Log On


   

Question 1071180: A bag contains 1 gold marbles, 6 silver marbles, and 25 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1.
Answer by addingup(3677) About Me  (Show Source):
You can put this solution on YOUR website!
Expected value of x:
E(x) = 3(1/32)+2(6/32)-1(25/32) = 0.3125