Answer:
h=3
Step-by-step explanation:
I divided -3.6 on both sides to get h by itself, and now I have h=-3.6/-10.8. combine like terms (-3.6/-10.8) and I got 3. My final answer would be h=3
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!)
1,000 x 0.04 = 40
250+ 40 = 290
That week she made $290
