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Find the expected value of the winningsfrom a game that has the followingpayout probability distribution:Payout ($)024810Probability 0.35 0.2 0.1 0.2 0.15Expected Value = [?]Round to the nearest hundredth.

Answer :

ANSWER

3.9

EXPLANATION

The expected value is the sum of each value multiplied by its probability. Let X be the payout:

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