Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 11 - Counting Methods and Probability Theory - 11.8 Expected Value - Concept and Vocabulary Check - Page 754: 1

Answer

See below.

Work Step by Step

Probabilities help us determine the expected value in the long run. This can be obtained by the sum of the product of each possible outcome and its probability.
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