Find the expected value of the winnings from a game that has the following payout probability distribution: Payout ($) 2 5 8 10 Probability 0.35 0.2 0.1 0.2 0.15 Expected Value = [?] Round to the nearest hundredth.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
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Chapter1: Starting With Matlab
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Find the expected value of the winnings
from a game that has the following
payout probability distribution:
Payout ($) 1 25 8
10
Probability 0.35 0.2 0.1 0.2 0.15
Expected Value = [?]
Round to the nearest hundredth.
Transcribed Image Text:Find the expected value of the winnings from a game that has the following payout probability distribution: Payout ($) 1 25 8 10 Probability 0.35 0.2 0.1 0.2 0.15 Expected Value = [?] Round to the nearest hundredth.
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