Question 1150251
E(x)=sum x*p(x)
=(1000-7)(1/500)+(200-7)(2/500)+(10-7)(14/500)-7(483/500), because $7 to play in the first place has to come out of the winning.
=993/500+386/500+42/500-3381/500
=-1960/500
=-$3.92 (loss)