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December 23rd, 2014, 06:38 AM  #1 
Member Joined: Dec 2014 From: Ireland Posts: 74 Thanks: 1  Expected Value
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December 23rd, 2014, 08:14 AM  #2  
Math Team Joined: Dec 2006 From: Lexington, MA Posts: 3,267 Thanks: 408  Hello, jbergin! Quote:
$P(\text{win }\$3) = \frac{3}{4},\;\;P(\text{lose }\$8) = \frac{1}{4}$ $E \;=\;\left(\frac{3}{4}\right)(+3) + \left(\frac{1}{4}\right)(\text{}8) \;=\;+\frac{1}{4}$ You can expect to win an average of $25\rlap{/}c$ per game.  

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