The Sum of the Possible Outcomes of a Gamble Multiplied

question 112

Multiple Choice

The sum of the possible outcomes of a gamble multiplied by their respective probabilities is known as:

• A)a fair gamble.
• B)the variance of the gamble.
• C)a better-than-fair gamble.
• D)the expected value of the gamble.

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Definitions:

Folds

Structures formed by the bending and warping of rock layers due to pressure and heat in the Earth's crust.

Permeable Sandstone

A type of sandstone that allows fluids to pass through it due to spaces between the sand grains, making it important for water and hydrocarbon reservoirs.

Impermeable Shale

A type of shale rock so compact that it does not allow fluids to pass through it, often creating a barrier for groundwater movement.

Iron Ore

Naturally occurring rocks and minerals from which metallic iron can be economically extracted, commonly found as hematite and magnetite.