00:01
So in our variable of the net winnings, that says that they get $3 for a on a $1 bet.
00:08
So it's a $1 bet.
00:11
And they have a 0 .25 chance of a win, and then of a loss, that's going to be a 0 .75.
00:17
And so that will be an earning negative 1.
00:20
And on a $3 bet, i'm assuming that that means you net 2.
00:25
And so the question doesn't state what, as it's written for me, what you want to find.
00:31
But i'm going to assume you want to find what the mean is and what that is, what the meaning of the mean is, or what the expected value of the random variable is.
00:41
And so we're going to take 2 times 0 .25 plus negative 1 times 0 .75.
00:47
And when we get that, that mean comes out to be negative 0 .25.
00:52
And that means that if you play this game over and over and over, your average earning is to lose 25 cents per game...