Answer:
I think the answer is -4 .
Step-by-step explanation:
Let me know if it's right or wrong.
The correct answer is 24 month loan with a 10% annual simple interest rate
Answer:
3.9
Step-by-step explanation:
Given the data:
Payout ($) (x) : 0 2 4 8 10
Probability p(x) : 0.35 0.2 0.1 0.2 0.15
The expected winning ; E(X) = Σ(x * p(x))
Σ(x * p(x)) = (0*0.35)+(2*0.2)+(4*0.1)+(8*0.2)+(10*0.15)
= 0 + 0.4 + 0.4 + 1.6 + 1.5
= 3.9
