👤
Answered

At a carnival game, you can either pay $1.00to play game A and have a 10% chance ofwinning $15.00 or pay $3.00 to play game Band have a 15% chance of winning $20.00.What is the expected value of playing eachgame?

Answer :

The expected value is given by:

[tex]E(x)=\sum ^n_{i=1}x_ip(x_i)[/tex]

For game A:

[tex]15\cdot0.1=1.5[/tex]

For game B:

[tex]20\cdot0.15=3[/tex]

Go Teaching: Other Questions