11-04-2020
Mathematics

contestada

In a game, you have a 1/50 probability of winning $53 and a 49/50 probability of losing $3 What is your expected value?

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Bladerunner1976 Bladerunner1976

11-04-2020

Answer:

Expected Value is $4

Step-by-step explanation:

Expected value is the probabilities multiplied by the value of each of those probabilities. In our case

EV = (1/50)*53 + (49/50)*-3

EV = 1.06 - 2.94

EV = -1.88

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