Find the Expected Value

question 136

Multiple Choice

Find the expected value.
-Bob and Fred play the following game. Bob rolls a single die. If an even number results, Bob must pay Fred the number of dollars indicated by the number rolled. On the other hand, if an odd
Number is rolled, Fred must pay Bob the number of dollars indicated by the number rolled. Find
Bob's expected winnings.

• A)$0
• B)-$0.25
• C)-$0.50
• D)-$0.40

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Definitions:

Negotiable Instrument

A written document guaranteeing the payment of a specific amount of money, either on demand or at a set time, with the payee able to transfer it to another holder.

Good Contract

An agreement that is valid under the law and contains all the essential elements making it enforceable and binding.

Definition

A statement that explains the meaning of a term or phrase, clarifying its notion and context within a particular field.

Technical Requirements

Detailed specifications to which a product, service, or system must adhere.