Question

In a game, you have a 1/48 probability of winning $143 and a 47/48 probability of losing $10.

What is your expected winning?

Answer 1

Losing $10

Explanation:

• As the expected probability of losing $10 (47/48 = 97.9%) is much greater than the probability of winning $143 (1/48 = 2.1%), the expected winning is losing $10