Question
what is the expected value of a fair game?
It depends on the game: the rewards and the probability of particular outcomes.
If the lottery has a 10 million dollar prize, and I have a one in five chance of winning it (I wish), the expected value would be
1/5 * 10 Million
It depends on the game: the rewards and the probability of particular outcomes.
If the lottery has a 10 million dollar prize, and I have a one in five chance of winning it (I wish), the expected value would be
1/5 * 10 Million