In a Game of Chance, the Probability of Winning a $50

question 28

Multiple Choice

In a game of chance, the probability of winning a $50 is 40 percent and the probability of losing a $50 prize is 60 percent. What is the expected value of the prize in the game?

• A) $10
• B) $0
• C) $0.10
• D) $25

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Definitions:

Information Technologies

The study and application of computers and telecommunications equipment to store, retrieve, transmit, and manipulate data.

Control

The ability to influence or direct people's behavior or the course of events.

Flexibility

The ability to adapt to new, different, or changing requirements and situations in various contexts, including work, personal life, and physical abilities.

Algorithmic Management

Using algorithms’ data processing power to extract information from big data to allow managers to oversee workers in an optimized manner at a large scale.