Please show work A jar contains 10 ping pong balls, 7 are red, 2 are white, and 1 is blue. A lottery game costs $2 to play. The game consists of randomly selecting a ping pong ball. If you select a red marble, you lose the $2 you paid to play the game. If you select a white ping pong ball, you get back the $2 you paid to play (so, you neither win not lose any money). If you select a blue ping pong ball, you get back your $2, plus an additional $12 (so, you win $12). Find the expected value of playing this lottery game.

A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A jar contains 10 ping pong balls, 7 are red, 2 are white, and 1 is blue. A lottery game costs $2 to play. The game consists of randomly selecting a ping pong ball. If you select a red marble, you lose the $2 you paid to play the game. If you select a white ping pong ball, you get back the $2 you paid to play (so, you neither win not lose any money). If you select a blue ping pong ball, you get back your $2, plus an additional $12 (so, you win $12). Find
the expected value of playing this lottery game.

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