Question

In a particular​ game, the probability of winning $95 is 1/36 and the probability of losing $7 is 35/36. What is the expected value after playing this​ game? Round to the nearest cent.

Answer 1

1.53

Explanation:

1

36

(

85

)

+

(

35

36

)

(

−

4

)

=

E

V

85

36

−

140

36

=

E

V

−

55

36

=

E

V

E

V

≈

−

$

1.53