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Author Question: A game is said to be "fair" if the expected value for winnings is 0, that is, in the long run, the ... (Read 103 times)

SO00

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A game is said to be "fair" if the expected value for winnings is 0, that is, in the long run, the player can expect to win 0. Consider the following game. The game costs $1 to play and the payoffs are $5 for red, $3 for blue, $2 for yellow, and nothing for white. The following probabilities apply. What are your expected winnings? Does the game favor the player or the owner?


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Marked as best answer by SO00 on Apr 7, 2020

sierramartinez

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SO00

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Reply 2 on: Apr 7, 2020
Excellent


adammoses97

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Reply 3 on: Yesterday
:D TYSM

 

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