Answer:
$212.31
Step-by-step explanation:
divide $36,080 by 52 weeks in a year. you get $693.84 weekly.
divide $47,120 by 52 weeks in a year. you get $906.15 weekly.
then subtract 906.15 from 693.84 and you get 212.31
4- adding because it’s the opposite
Expected value of the bet is
the sum of the products of value of outcome and its probability,
less the amount paid to place the bet.
Outcomes value probability
win 225 1/4
lose 0 3/4
cost of bet = 40
So expected value of bet
E[X]=225*(1/4)+0*(3/4)-40
=56.25-40
=16.25
This means that in the long run, gambler will win, since the expected value is positive. (does NOT mean she will win in the next bet!)
Answer:
19 km
Step by step explanation: