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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.*

2 answers

0.10? Is this correct?

.2*2 + .3*1 -.3*2 -.2*0

.4 + .3 -.6 - 0

.1
I agree

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