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:
$4,500.
Step-by-step explanation:
1 year and 6 months is 18 months, so 250 times 18 is 4,500.
Answer ; 10x - 20
Explanation; Multiply each term in the parenthesis by 10. Then multiply the numbers, and you get your answer.
The fraction is 4/20 for #2.
