find the expected value of the winnings from a game that has the following payout probability distribution:
payout 0, 2, 4, 8, 10
probability 0.35, 0.2, 0.1, 0.2, 0.15
expected value =?

Respuesta :

The expected value of these group of earning is given as  expected value is 3.9

How to solve for expected value

To get the expected value. you first have to multiply the probabilities by their payout

0 * 0.35 = 0

2 * 0.2 = 0.4

4 * 0.1 = 0.4

8 * 0.2 = 1.6

10 * 0.15 = 1.5

The expected value is a summation of all of these values after the multiplication has been done.

Expected value is = 0 + 0.4 + 0.4 + 1.6 + 1.5

= 3.9

Hence the expected value is 3.9

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Answer:3.9

Explanation:

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