Suppose a Game Has Three Outcomes, A, B, and C

Multiple Choice

Suppose a game has three outcomes, A, B, and C with probabilities P(A) = 0.2, P(B) = 0.3, and P(C) = 0.5. A player will receive $3 when outcome A occurs, $4 when outcome B occurs, and will have to pay $2 when outcome C occurs. What is the mean value of one trial of the game?

A) $0.80
B) $1.66
C) $1.00
D) $5.00