Solve the problem.
-In a game, you have a 1/42 probability of winning $67 and a 41/42 probability of losing $7. What is your expected value?
A)$1.60
B)$8.43
C)-$5.24
D)-$6.83

Question

Quizplus · Accepted Answer

The expected value is calculated by multiplying each outcome by its probability and summing the results: (1/42 * $67) + (41/42 * -$7) = $1.60 - $6.83 = -$5.24.

Solve the Problem. -In a Game, You Have a 1/42 Probability of Winning