algebra II
posted by chrissy on .
find the expected value of the prize
value $0 $1 $5 $20
probability 0.9359 0.05 0.01 0.003
$100 $1000
0.001 0.0001

Just sum them up...
ev=0*.9359 + 1*.05 + 5*.01 + 20*.003+...
posted by chrissy on .
find the expected value of the prize
value $0 $1 $5 $20
probability 0.9359 0.05 0.01 0.003
$100 $1000
0.001 0.0001
Just sum them up...
ev=0*.9359 + 1*.05 + 5*.01 + 20*.003+...