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A box contains 1 gold sock, 3 blue socks, and 30 red socks. As a game, you must grab one sock from the box. If
A box contains 1 gold sock, 3 blue socks, and 30 red socks. As a game, you must grab one sock from the box. If it is gold, you win $20. If it is blue, you win $3. If it is red, you lose $1. What is your expected value of this game?
a) -$1.00
b) $0.06
c) $2.05
d) $0.75
e) $-0.03
f) -$0.50
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