Answer:
a) - $0.169
b) - $0.04242
Step-by-step explanation:
Data provided in the question:
Bet amount = $4
Probability of losing $4 =
Probability of gaining $4 =
a) The expected value
= Winning amount × winning probability - Losing amount × Losing probability
= $4 × - $4 ×
= $4 ×
= - $0.169 (Negative sign means loss)
b) The amount lost for each dollar =
=
= - $0.04242
Place a point on the coordinates (3,1). Then from the point go up 1 and to the right 3 for coordinates to your next point (6, 2). Do this again for another point at (9, 3).
Go back to the point (3,1) and do the opposite; go down 1, left 3. This gets you to (0,0). Do it again to get (-1, 3).
Now draw a straight line through all of these dots.
The answer is a if the line is dotted/dashed. The answer is c if the line isn't dotted/dashed.
Answer:
9
Step-by-step explanation:
30 multiply by 30 and divide by 100