The expected value for each round, if there are two draws per round and the chips, are replaced after each draw is 0.4.
Given to us
Number of black chips = 2
Number of red chips = 3
Points are given for a black chip = +2
Points are given for a red chip = -1
<h3>What are the probabilities of the different cases?</h3>
We know that for each round there will be 2 draws, therefore, there will be four cases,
Case1:
Probability, when both the chips drawn are black,

Case2:
Probability, when the first chip is black and the next chip is red,

Case 3:
Probability, when the first chip is red and the next chip is black,

Case 4,
Probability, when both the chips drawn are red,

<h3>What is the expected value for each round?</h3>
The expected value of each round can be found,

E(x) = 0.4
Hence, the expected value for each round, if there are two draws per round and the chips, are replaced after each draw is 0.4.
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