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algebra II

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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

  • algebra II - ,

    Just sum them up...
    ev=0*.9359 + 1*.05 + 5*.01 + 20*.003+...

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