Question

On the average, how much would you expect to win by playing the following game? A...

On the average, how much would you expect to win by playing the following game? A 50% chance to win $2000, a 30% chance to lose $1000, and a 20% chance to lose $2000.

a) $1000 gain

b) $300 loss

c) $400 loss

d) $300 gain

On the average, how much would you expect to win by playing the following game? A 60% chance to win $3000 and a 40% chance to lose $1000.

a) $1800 gain

b) $400 loss

c) $1400 gain

d) $0

Math   Statistics-And-Probability   
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Answer #1

ans.

For 1st game, $300 gain

For 2nd game, $1400 gain

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