Question

HELP PLEASE! any help is wanted as long as its not guesses please. 100pts for this too

Bill is playing a game of chance with the following payout. 30% of the time you will lose 20 dollars, 20% of
the time you lose 40 dollars, 10% of the time you win 50 dollars, 40% of the time you win 5 dollars. Find the
expected value of the event and explain if Bill should play this game based on the mathematical expectation.

Answer 1

Bill for the level of the heavenly souls dont do it Bill

Answer 2

He shouldn’t play.

Explanation:

The least he can lose is 20 dollars, but there’s a chance of 30% that he will.

The MOST he can win is 50 dollars with a chance of 10%.

The odds are not in his favor. (The chance of losing is equal to the chance of winning, but the amount of money lost is higher than the amount won)