Calculate the expected value of scratch of the whole game

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Reference no: EM13904644

Louisiana is busy designing new lottery scratch-off games. In the latest game, Bayou Boondoggle, the player is instructed to scratch off one spot: A, B, or C. A can reveal "Loser," "Win $1," or "Win $50" B can reveal "Loser" or "Take a Second Chaucer C can meal "Loser" or "Win $500" On the second chance, the player is instructed to scratch off D or E.D can reveal "Loser" or "Win $1." E earl reveal "Loser" or "Win $10." The probabilities at A are .9, .09, and .01. The probabilities at B am .8 and .2. The probabilities at C are .999 and 001 The probabilities at D are .5 and S. Finally, the probabilities at E am .95 and .05. Draw the decision tree that represents this scenario. Use proper symbols and label all branches clearly. Calculate the expected value of scratch A,B,C and of the whole game.

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Reference no: EM13904644

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