Suppose a basketball player has made 184 out of 329 free throws. If the player make the next two free throws, I will pay you $24. Otherwise you pay me $12. Find the expected value of the proposition
Given that the player made 184 out of 329 throws, the probability of making the next throw will be: P(x)=[Number of shots made]/[Total number of throws] =184/329 =0.559 Thus the expected value of proposition will be: 0.599*24+0.559*12 =20.134
