Find the Expected Value

question 27

Multiple Choice

Find the expected value.
-You are given 16 to 1 odds against tossing 4 tails in 4 tosses of a fair coin. This means that you win $16 if you succeed and you lose $1 if you fail. Find the expected value (to you) of the game. Round
To the nearest cent.

• A)$0.06
• B)-$0.06
• C)$0.13
• D)$1.00

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