For a new casino game called Besiege of Logic , there are four possible outcomes for the
Fantastic news! We've Found the answer you've been seeking!
Question:
For a new casino game called Besiege of Logic, there are four possible outcomes for the player. The probability distribution table for the four outcomes of this game is shown below along with the results of a $25 bet.
Outcome | The player wins big | The player wins small | The player ties with the house | The player loses |
Probability | 0.053 | 0.209 | 0.193 | 0.545 |
Result | +$150 | +$25 | $0 | -$25 |
Calculate the expected value from the perspective of the player for one $25 bet on this game.
Posted Date: