Answer:
$0.558
Step-by-step explanation:
The expected value is the sum of the value of each outcome times the chance that it happens. In this case, there are two outcomes:
- Win $31 million
- Win $0
Then our expected value can be calculated as:

Answer:
Exact Form:
x = 31/25
Decimal Form:
x = 1.24
Mixed Number Form:
x = 1 6/25
Step-by-step explanation:
Hope this helps
Approximately $307.73 is the total amount of interest earned for 5 years at an annual interest rate of 4.5%, with an initial investment of $1,250.