In a game of​ chance, players pay $5 for a chance to win one of two​ prizes: a $100 gift card or a $20 gift card. The probability of winning the ​$100 gift card is 0.004 and the probability of winning...


In a game of​ chance, players pay $5 for a chance to win one of two​ prizes: a $100 gift card or a $20 gift card. The probability of winning the ​$100 gift card is 0.004 and the probability of winning the $20 gift card is 0.06.


Find the expected value​ (win or​ loss) per game.


​Note: The values below are in dollars ​($).





A. −3.08





B. 1.60





C. 35.00





D. −3.40





E. 1.28





Jun 01, 2022
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