32,347,345.5 people died in the year 200
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!)
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they drunk 2/3 because 3/4=9/12-8/12=1/12 and 8/12 is equal to 2/3 so 2/3 is your answer. Hope this helps!
Hope this helps
X = 8
Y = 7
