Lola loves to gamble at the casino boats.She tells you that even though the odds of winning big are low,she is certain that she can win back at least the same amount of money she pays into the slot machines.By determining the odds of winning on the machines,you use a simple equation to show Lola that her ____ is actually negative,and therefore,she should not play the machines if she wants to come out ahead.

Question

Quizplus · Accepted Answer

The equation that Lola needs to understand is the expected value, which takes into account the probability of winning and the amount that can be won. If the expected value is negative, it means that on average, she will lose money over time. Therefore, Lola should not play the machines if she wants to come out ahead. The other answer choices are not relevant to the situation.

Lola Loves to Gamble at the Casino Boats