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Find the resulting expected value

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Reference no: EM132166900

The South Seattle College Nursing Club decides to offer a game of chance at the annual Health Fair. Players pay $1.00 to play, and have the chance to win $5.00. Ten marbles are placed in a bag, with seven black and three red. To win you must choose a red marble. Complete the following table, with X = net profit, and find the resulting expected value.

x, Net Profit P(x) x*P(x)

Win _________ 0.30 _______

Lose _________ 0.70 _______

 The expected value of playing the game is  _______.

Reference no: EM132166900

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