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Suppose you enter a contest where your probability of coming in first place is 0.22 and your probability of coming in second place is 0.3.
Suppose you enter a contest where your probability of coming in first place is 0.22 and your probability of coming in second place is 0.3. If you come in first place, you win $71. If you come in second place, you win $10. If you don't come in first or second place, you have to pay $61. What is the expected value of this game?
Answer = $
Round your answer to the nearest penny/cent (two decimal places).Include a negative sign, if appropriate.
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