Find the expected value of the winnings
2 answers:
Answer:
2.65
Step-by-step explanation:
Multiply each payout by its probability, then add those products.
See the attached image.
The first column has the payouts. The second column has the probabilities. The third column has the results of multiplying a payout by its probability.
The sum of the entries in the third column is 2.65
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Answer:
x = 18
Step-by-step explanation:
- then cross-multiply
8x = 12 * 12
8x = 144
x = 18
