Question

QUESTION 7

Answer 1

The average winning per bet is the mean or the expected value of winning a bet.

The statistical term that represents $0.94 is (c) the expected value

From the question, we understand that the gambler has an average winning of $0.94, when he places a bet of $1

This means that:

The average winning on a bet of $1 is $0.94

Average, in statistics means the mean or expected value

Hence, the statistical term for $0.94 is (c) the expected value

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