Question

A prize of $100, $200, $400, or $800 will be randomly awarded to a game show
contestant, with the probabilities of winning each prize shown in the table below. What is
the expected value of the prize that will be awarded?

Answer 1

Answer:

C i think

Step-by-step explanation:

Answer 2

The expected value of the prize that will be awarded is $380

How to determine the expected value?

The expected value is calculated using:

$E(x) = \sum x *P(x)$

So, we have:

E(x) = 100 *0.2 + 200 * 0.2 + 400 * 0.4 + 800 * 0.2

Evaluate

E(x) = 380

Hence, the expected value of the prize that will be awarded is $380

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