The expected value of your profit or loss for a single scratch-off ticket is exactly
Next, list or calculate the probability for each outcome. The problem gives most of them directly, but we need to calculate the probability of winning nothing: Probability of Probability of Probability of Probability of To find the probability of winning nothing (losing ), subtract the sum of the winning probabilities from fifa-22-pc-game-free-download
E(X)=(95×0.01)+(15×0.05)+(5×0.10)+(0×0.20)+(-5×0.64)cap E open paren cap X close paren equals open paren 95 cross 0.01 close paren plus open paren 15 cross 0.05 close paren plus open paren 5 cross 0.10 close paren plus open paren 0 cross 0.20 close paren plus open paren negative 5 cross 0.64 close paren The expected value of your profit or loss
P(nothing)=1−(0.01+0.05+0.10+0.20)=1−0.36=0.64cap P open paren nothing close paren equals 1 minus open paren 0.01 plus 0.05 plus 0.10 plus 0.20 close paren equals 1 minus 0.36 equals 0.64 3. Apply the expected value formula fifa-22-pc-game-free-download