Question

Problem 80/120

If a game gives payoffs of $10 and $85 with probabilities 0.7 and 0.3, respectively, then the expected value of this game is

E = $ [ answer ] × 0.7 + $ [ answer ] × 0.3.

Answer 1

I'm going to assume that we're looking for what [answer] is, and we won't have to look to far because it's in the question. Put the values of the prize with each probability of getting that prize.