The Probabilities That a Student Wins $50,000, $20,000 or $12,000

question 27

Multiple Choice

The probabilities that a student wins $50,000, $20,000 or $12,000 are 0.7, 0.2 and 0.1 respectively. The expected value of the random x = win is approximately.

• A) $37,800.
• B) $40,200.
• C) -$37,800.
• D) -$40,200.
• E) 0.

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