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August 29, 2015

Homework Help: Math

Posted by Anonymous on Wednesday, December 20, 2006 at 8:14am.

what is the expected value of a fair game?

It depends on the game: the rewards and the probability of particular outcomes.


If the lottery has a 10 million dollar prize, and I have a one in five chance of winning it (I wish), the expected value would be

1/5 * 10 Million

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