Multiple Choice
Suppose Chris is offered the following gamble: with probability 0.1 he will win $90, with probability 0.4 he will win $50, and with probability 0.5 he will lose $60. The expected value of this gamble is ________.
A) -$1
B) $0
C) $1
D) $2
Correct Answer:
Verified
Correct Answer:
Verified
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