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You Play a Game with Two Possible Outcomes

Question 16

Multiple Choice

You play a game with two possible outcomes. Outcome A has probability 0.4 and outcome B has probability 0.6. When B occurs you win $2.00; otherwise, you lose $1.00. What is your expected value for this game?


A) $2.00
B) -$0.10
C) $0.20
D) -$0.80
E) $0.80

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