Dida bought a scratch ticket for $2.00. The potential payoffs and probability of those payoffs are shown below.
1 answer:
9514 1404 393
Answer:
(b) $1.15
Step-by-step explanation:
The expected value is the sum of products of payoff and probability:
$0×0.15 +0.50×0.5 +1.0×0.2 +2.0×0.1 +10×0.05
= $0 +0.25 +0.20 +0.20 +0.50
= $1.15 . . . . expected value of the scratch ticket
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HOPE THIS HELPEDDDD ❤✨
