In a game, you win 95 dollars with probability 20% and 14 dollars with probability 30%. What is the expected value?

**Choice A is the best answer.** E = 95(0.2) + 14(0.3) = 19 + 4.2 = 23.2 dollars

**Choice A is the best answer.** E = 95(0.2) + 14(0.3) = 19 + 4.2 = 23.2 dollars

Set 3: Probability (Advanced)

Explanation

Answer: A

PROBLEM

In a game, you win $95 with probability 20% and $14 with probability 30%. What is the expected value?

23.2

✓ Correct

18.2

46.4

28.2

Choice A is the best answer. E = 95(0.2) + 14(0.3) = 19 + 4.2 = $23.2

Why others are wrong:

B: 18.2 is incorrect because it does not satisfy the equation.

C: 46.4 is incorrect because it does not satisfy the equation.

D: 28.2 is incorrect because it does not satisfy the equation.