Suppose a Game Has Three Outcomes, A, B, and C

question 72

Multiple Choice

Suppose a game has three outcomes, A, B, and C with probabilities P(A) = 0.2, P(B) = 0.3, and P(C) = 0.5. A player will receive $3 when outcome A occurs, $4 when outcome B occurs, and will have to pay $2 when outcome C occurs. What is the mean value of one trial of the game?

• A) $0.80
• B) $1.66
• C) $1.00
• D) $5.00

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