Ask Question
4 April, 09:38

Lesson 6.11

Bill is playing a game of chance with the following payout. 30% of the time you will lose 20 dollars, 20% of

the time you lose 40 dollars, 10% of the time you win 50 dollars, 40% of the time you win 5 dollars. Find the

expected value of the event and explain if Bill should play this game based on the mathematical expectation.

+2
Answers (1)
  1. 4 April, 09:47
    0
    Answer:Bill should not play he Is bound to lose more money (-20) (0.3) + (-40) (0.2) + (50) (0.1) + (5) (0.4) = - 7

    Step-by-step explanation: 30% you of time you will lose 20 dollars

    20% of time you will lose 40 dollars

    10% of time you will win 50 dollars

    40% of the time you will win 5 dollars
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Lesson 6.11 Bill is playing a game of chance with the following payout. 30% of the time you will lose 20 dollars, 20% of the time you lose ...” in 📗 Mathematics if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers