A game costs $3 to play. There are four different colour balls in a bag, red, black,
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Question:
A game costs $3 to play. There are four different colour balls in a bag, red, black, green and blue. There are 3 red balls, 6 black balls, 4 green balls and 7 blue balls. If you win $3 for selecting a black ball, $4 for a green ball, $6 for a red ball and nothing for a blue ball,
what is the expected value of playing the game?
Should you play the game?
Related Book For
Quantitative Analysis for Management
ISBN: 978-0132149112
11th Edition
Authors: Barry render, Ralph m. stair, Michael e. Hanna
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