A game has an expected value to you of ?$100. It costs ?$200 to? play, but if you win you receive? $100,000 (including your ?$200 ?bet), for a net gain of ?$99,800. What is the probability of? winning?
Added by Jose Antonio M.
Step 1
The expected value is the average amount of money you can expect to win or lose per game. Expected value = (Probability of winning * Amount won) - (Probability of losing * Amount lost) We know that the expected value is $100, so we can set up the equation: $100 Show more…
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