Asked by Comet

What is your expected value for a game whose probabilities and outcomes are given in the following table? Assume the wager is $1.

Proability
0.2 = you win 2 times wager
0.3 = you win your wager
0.3 = you lose 2 times your wager
0.2 = you win nothing

*Having trouble setting up this problem, any help is appreciated.*
Answered by Comet
0.10? Is this correct?
Answered by Damon
.2*2 + .3*1 -.3*2 -.2*0

.4 + .3 -.6 - 0

.1
I agree