Question

If you have a 50% chance to win $1,000 and 50% chance to lose $100, your expected value is:

Group of answer choices

$450 gain

$450 loss

$0

$500 gain

On the average, how much would you expect to win by playing the following game? A 60% chance to win $3000 and a 40% chance to lose $1000.

$1800 gain

$400 loss

$1400 gain

$0

Answer 1