SOLUTION: The odds that Mario wins a certain game with a prize of P 10,000 are 5 to 7. What is his mathematical expectation?

Algebra ->  Probability-and-statistics -> SOLUTION: The odds that Mario wins a certain game with a prize of P 10,000 are 5 to 7. What is his mathematical expectation?      Log On


   

Question 1200453: The odds that Mario wins a certain game with a prize of P 10,000 are 5 to 7.
What is his mathematical expectation?
Answer by greenestamps(13198) About Me  (Show Source):
You can put this solution on YOUR website!


Formally, the mathematical expectation is

%285%2810000%29%2B7%280%29%29%2F12

Informally, his expectation is simply (5/12) of 10000.

Same answer either way, of course.

You can do the simple calculation and express the result however you want.