Suppose the expected value of a game of chance is 275 Does t
Suppose the expected value of a game of chance is -$2.75. Does this mean that every time one plays this game, she will lose $2.75? Explain your answer briefly.
Solution
expected value of a game of chance is -$2.75, it explains the average value of money returned is nagtive for certain count of play. It can be possible that some games will gives the profit & other lose.
