In a gambling game, on every play, there is a 0.1 probability that you win $11 and a 0.9 probability that you lose $3. What is the expected value of this game? Give your answer to two decimal places in the form EITHER 2.23 OR 2.23.

Algebra & Trigonometry with Analytic Geometry
13th Edition
ISBN:9781133382119
Author:Swokowski
Publisher:Swokowski
Chapter10: Sequences, Series, And Probability
Section10.8: Probability
Problem 68E
icon
Related questions
Topic Video
Question
In a gambling game, on every play, there is a 0.1 probability that you win $11 and a 0.9 probability that you
lose $3. What is the expected value of this game? Give your answer to two decimal places in the form EITHER
2.23 OR 2.23.
Transcribed Image Text:In a gambling game, on every play, there is a 0.1 probability that you win $11 and a 0.9 probability that you lose $3. What is the expected value of this game? Give your answer to two decimal places in the form EITHER 2.23 OR 2.23.
Expert Solution
trending now

Trending now

This is a popular solution!

steps

Step by step

Solved in 2 steps

Blurred answer
Knowledge Booster
Discrete Probability Distributions
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, advanced-math and related others by exploring similar questions and additional content below.
Recommended textbooks for you
Algebra & Trigonometry with Analytic Geometry
Algebra & Trigonometry with Analytic Geometry
Algebra
ISBN:
9781133382119
Author:
Swokowski
Publisher:
Cengage
College Algebra
College Algebra
Algebra
ISBN:
9781337282291
Author:
Ron Larson
Publisher:
Cengage Learning