Which of the following sequences represents a geometric sequence? -3, -6, -12, -24, ... 1, 4, 9, 16, ... -1, 2, 5, 8, ... 0, 2,
2 answers:
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Answer:
The gambler's expected value if he makes the bet is $45.
Step-by-step explanation:
Expected value:
15% probability of a profit of $2000.
100 - 15 = 85% probability of having to pay $300, that is, a loss of $300.
The expected value is each outcome multiplied by it's probability, so:
The gambler's expected value if he makes the bet is $45.