geometry
posted by angela .
Expected value If on a $1 bet, Paul Goldstein's expected value is 0.30, what is Paul's expected value on a $5
bet. I got 1.50 but my teacher said it wasn't correct.

expected value on $1 is .30
expected value on $5 is 5(.30) = $1.50
You are correct!
Respond to this Question
Similar Questions

Probability
A contest entrant has a .00001 probability of winning $5,000.00. If this is only prize and the entry fee is $20.00, then what is the expected value? 
math,correction
Find expected value for the random variable. its suppost to be a table 6 X 2 i used the .... to represent separation z.....3......6.....9.....12.......15 p(z)..0.14..0.29..0.36..0.11...0.10 So what i did is i said e(x) = 3 (0.14)+ … 
Intro to probability
Two balanced coins are tossed. What are the expected value and the variance of the number of heads observed? 
math
in a game of roulette, there are 18 red numbers, 18 black numbers, and 2 green numbers. you may bet on red or black, but not green. if you win a $1 bet on the color, the house pays you $1. what is the expected value of each $1 you … 
Math (expected value)
A roulette wheel in Las Vegas has 18 red slots and 18 black slots numbered alternately with the numbers 1 through 36. Two green slots are numbered 0 and 00. The winning number is determined by the slot into which a single marble rolls. … 
Statistics
An American style roulette wheel has individual compartments for the numbers 1 to 36, plus 0 and 00. If the payoff for a singlenumber bet is 35:1, what is the expected value of the winnings on any singlenumber bet? 
Math
An urn contains 4 green, 6 blue and 10 yellow chips. You pay $5 to draw a chip from the urn. Here are the rules of the game: if you draw a green chip, the dealer returns you your bet and gives you an additional $5. if you draw a blue … 
College Stats
An urn contains 4 green, 6 blue and 10 yellow chips. You pay $5 to draw a chip from the urn. Here are the rules of the game: if you draw a green chip, the dealer returns you your bet and gives you an additional $5. if you draw a blue … 
geometry
Expected value If on a $1 bet, Paul Goldstein's expected value is 0.30,what is Paul's expected value on a $5 bet? 
math
There are 40 slots in a roulette wheel,19 are red, 19 are black, and 2 are green. if you place a $1 bet on red and win, you get $2( your original point $1 and an additional $1) returned. what is the expected value of a $1.00 bet on …