Please help! Correct answers only!

Mathematics

1 answer:

DaniilM [7]3 years ago

5 0

Answer:

<em>" Expected Payoff " = $ 6.70</em>

Step-by-step explanation:

Consider the steps below;

$Probability of Winning the 550 Dollar Prize - 1 / 200,\\Probability * Money Won = " Expected Payoff " For The 550 Dollar Prize,\\\\1 / 200 * 550,\\" Expected Payoff " - 2.75 Dollars,\\\\Probability of Winning the 510 Dollar Prize - 1 / 200,\\\\1 / 200 * 510,\\" Expected Payoff " - 2.55 Dollars,\\\\Probability of Winning the 280 Dollar Prize - 1 / 200,\\\\1 / 200 * 280,\\" Expected Payoff " - 1.4 Dollars,\\\\$

$Conclusion ; Expected Payoff = 6.70 Dollars$

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