Suppose Chris Is Offered the Following Gamble: with Probability 0

question 89

Multiple Choice

Suppose Chris is offered the following gamble: with probability 0.1 he will win $90, with probability 0.4 he will win $50, and with probability 0.5 he will lose $60. The expected value of this gamble is ______.

• A)-$1
• B)$0
• C)$1
• D)None of these

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