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16.A gambler makes a $30 bet. If he wins the bet, he will profit $200. The probability that he will win the bet is 22%.
16.A gambler makes a $30 bet. If he wins the bet, he will profit $200. The probability that he will win the bet is 22%. What is the gambler's expected value for this bet?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
