A bag contains ten green balls, five blue balls, and fifteen yellow balls. If an individual picks a green ball from the bag, she wins $200. If she picks either a blue ball or a yellow ball, she loses $300.
-Refer to the scenario above. What is the expected value of the game?

Question

Quizplus · Accepted Answer

The expected value is calculated by multiplying each outcome by its probability and summing the results: (10/30)*$200 + (5/30)*(-$300) + (15/30)*(-$300) = -$33.33.

A Bag Contains Ten Green Balls, Five Blue Balls, and Fifteen