Suppose You Play a Game Where You Pay $100 Dollars

question 7

Multiple Choice

Suppose you play a game where you pay $100 dollars to participate and have a 50% chance of winning nothing, a 10% chance of winning $1,100, a 20% chance of winning $600 and a 25% chance of losing $650.What is the expected value of participating in the game?

• A)$100
• B)$0
• C)-$100
• D)$1,050

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Definitions:

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A state of flourishing, thriving, good fortune or successful social status; often associated with economic growth and stability.

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