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Find the expected value of the winningsfrom a game that has the followingpayout probability distribution:Payout ($) 02 48 10Probability 0.45 0.3 0.1 0.1 0.05Expected Value = [?]…
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Find the expected value of the winningsfrom a game that has the followingpayout probability distribution:Payout ($) 02 48 10Probability 0.45 0.3 0.1 0.1 0.05Expected Value = [?]…
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Jul 3, 2023
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Find the expected value of the winningsfrom a game that has the followingpayout probability distribution:Payout ($) 02 48 10Probability 0.45 0.3 0.1 0.1 0.05Expected Value = [?]Round to the nearest hundredth.
Mathematics
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Eduardo Pareja Tobes
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Solution:
Given:
Using the formula:
Therefore:
ANSWER: 2.30
Tomermes
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Jul 7, 2023
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