Find the Expected Value

question 226

Multiple Choice

Find the expected value.
-In a large casino, the house wins on one of its games with a probability of 51%. All bets in the game are 1 : 1 . If you win, you gain the amount you bet; if you lose, you lose the amount you bet. What is
The expected value to the player of a single game?

• A)-$0.510
• B)$0.020
• C)-$0.020
• D)-$0.010