# Expected Value

A bag contains 2 gold marbles, 7 silver marbles, and 23 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win \$4. If it is silver, you win \$2. If it is black, you lose \$1.

What is your expected value if you play this game?

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1. expected(gold) = \$4(2/32) = 0.25
expected(silver) = \$2(7/32) = .4375
expected(black) = -1(23/32) = -0.71875
add them up to get -0.03125

A "losing" game

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2. Thanks

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3. Very close. You just need to subtract the 1\$ entrance fee from every prize pool.

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2. 👎

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