Question

A game has an expected value to you of $800. It costs $200 to play, but if you win, you receive $100,000 including your $800 bot) for ane gain of $9.200. What is the probability of winning? Would you play this game? Discuss the factors that would influence your decision The probability of winning is (Type an integer or a decimal) Would you play this game? Do the factors that would influence your decision Since the probability of winning the game is worn to play the game

Answer 1

ANSWER:
Expected value of x, denoted ELX), ºs E(X) = x1 P 1 + R2.P.2 t .... tanpa Where; ne is the Observation and pe is the poobability. Let probability of winning the best I-P probability of loosing the game. the bet is wen the net gain is $ 99.200 and if the bed is loss, the loss is -800, The expected be the and be the probability value of the game cos 800. The Psobabởi da sº bu-con – PE (1-P) ni 99200 -800 6 7800 - 992002- 99200 p - 800(1-P) 800 - 992000 - 800 + 800p a) 1600 = 100000P 1600 PE 100 000 - p = 10.016 winning low. The probabilety of winning is 60016]. Aru The probability of very One should play game because the expected value game is possé téve: thes of the
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