A bag contains 2 gold marbles, 6 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?
1 answer
2/31 * 4 + 6/31 * 2 - 23/31 = -3/31
1 answer