Question
A bag contains 2 gold marbles, 9 silver marbles, and 24 black marbles. Someone offers to play this game: You randomly select one marble from
A bag contains 2 gold marbles, 9 silver marbles, and 24 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1.
What is your expected value if you play this game?
$?
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An Introduction to the Mathematics of financial Derivatives
Authors: Salih N. Neftci
2nd Edition
978-0125153928, 9780080478647, 125153929, 978-0123846822
