Thinking Mathematically (6th Edition)

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

Chapter 11 - Counting Methods and Probability Theory - Chapter 11 Test - Page 763: 28

Answer

See below.

Work Step by Step

By definition, the expected value is the sum of each outcome multiplied by its probability. Hence here the expected value: $\frac{10}{20}\cdot(1-20)+\frac{5}{20}\cdot(2-20)+\frac{3}{20}\cdot(5-20)+\frac{1}{20}\cdot(10-20)+\frac{1}{20}\cdot(100-20)=-12.75$. This means that in the long run a player is expected to lose $12.75$ each turn he plays on average.
Update this answer!

You can help us out by revising, improving and updating this answer.

Update this answer

After you claim an answer you’ll have 24 hours to send in a draft. An editor will review the submission and either publish your submission or provide feedback.