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Going To Las Vegas Need lots of questions answered?
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Going To Las Vegas Need lots of questions answered?
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Topic: Going To Las Vegas Need lots of questions answered? (Read 24 times)
slice2020
Money Making Master
Posts: 773
Going To Las Vegas Need lots of questions answered?
«
on:
January 31, 2012, 06:26:26 AM »
A casino game costs $5 to play. If you win you get $25. The probability of winning is 0.23. What is the expected value of this game (how much would you expect to win or lose on average)? Is this a fair game? Ans- win $.75 per game; not a fair game
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