Suppose that a certain game, that does not cost to play, involves drawing one marble from an urn. Further suppose that the urn contains 4 red marbles, 3 green marbles, 5 white marbles, and 6 black marbles. If you draw a red marble, you win $5. If you draw a green marble, you win $4. However, if you draw a white marble, you lose $3, and if you draw a black marble, you lose $2.
a.) What is the Expected Value of this game.
b.) Is the game fair?
(please explain in detail the answers someone?)
2006-11-28
10:40:33
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3 answers
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asked by
Nathan D
1
in
Mathematics