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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?
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8 votes
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?

User Shreeram K
by
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1 Answer

8 votes
8 votes

Answer:

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
User Ernazm
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