A bag contains 1 gold marbles, 10 silver marbles, and 29 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game? 2s

College Algebra (MindTap Course List)
12th Edition
ISBN:9781305652231
Author:R. David Gustafson, Jeff Hughes
Publisher:R. David Gustafson, Jeff Hughes
Chapter8: Sequences, Series, And Probability
Section8.CR: Chapter Review
Problem 80E
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A bag contains 1 gold marbles, 10 silver marbles, and 29 black marbles. Someone offers to play this game: You
randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you
lose $1.
What is your expected value if you play this game?
Transcribed Image Text:A bag contains 1 gold marbles, 10 silver marbles, and 29 black marbles. Someone offers to play this game: You randomly select one marble from the bag. If it is gold, you win $3. If it is silver, you win $2. If it is black, you lose $1. What is your expected value if you play this game?
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