Question

A game has 28 white balls and 12 red balls in a bag, and you will randomly select one ball from the bag. If

the selected ball is white, you lose $5. And, if the ball is red, you win $10. What is the expected value of
the game?

Answer 1

There are 40 balls in the bag. The probability of selecting a white ball is 28/40, simplified to 7/10. The probability of selecting a red ball is 12/40, simplified to 3/10. You are more likely to get a white ball so you will most likely lose $5.

Explanation: