Solve the problem.
-In a game, you have a 1/21 probability of winning $107 and a 20/21 probability of losing $5. What Is your expected winning?
A) $5.10
B) $9.86
C) $0.33
D) -$4.76

Question

Quizplus · Accepted Answer

The expected winning is calculated by multiplying each outcome by its probability and summing these products. For winning $107, the expectation is (1/21) * $107 = $5.10. For losing $5, the expectation is (20/21) * -$5 = -$4.76. Adding these gives $5.10 - $4.76 = $0.33.

Solve the Problem. -In a Game, You Have a 1/21 Probability of Winning