What is the general form of the equation of the line shown?
2 answers:
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Answer:
The expected payout of the game is $230.46.
Step-by-step explanation:
The given table is
Payout Amount : $160 $4400 $145000
Probability : 0.146 0.024 0.0007
We need to find the expected payout of the game.
The formula for expected payout is
where, n is amount and P(x) is probability of that event. The value of n is negative for loss.
Using the above formula we get
Therefore the expected payout of the game is $230.46.
Answer:
0.06% annually
Step-by-step explanation:
Divide $720 by 3. We get $240, so we know this is the amount of interest we get per year. Dividing $240 by $4,000 gives us