45. You decide to market your own custom computer software. You must invest $3,255 for
1 answer:
You might be interested in
┈──────────────────────────┈
<h3>The formula looks like this: </h3>- (Probability of Winning) x (Amount Won per Bet) – (Probability of Winning) x
- (Amount Won per Bet) – (Probability of Losing) x (Amount Lost per Bet).
So, in our example we would plug in these variables, a 50% chance of winning, winning $6, a 50% chance of losing, and $5 lost.
<h3>The formula for expected value = </h3>- (fair win probability) x (profit if win) - (fair loss probability) x (stake).
This is the formula in the OddsJam sports betting expected value calculator.
┈──────────────────────────┈
_ _ _ _ _ _ _ _ _ _ _ _
_ _ _ _ _ _ _ _ _ _ _ _
Therefore, the amount of win is
┈──────────────────────────┈
