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In a carnival game you can either throw a Target A which yields a $7 prize 12% of the time Target B which yields a $3 prize 48% of the time. find the expected value of Target B

Answer :

Answer: The expected value of Target B is 1.44.

Step-by-step explanation:

Since we have given that

For Target B:

Amount of prize = $3

Probability that Target yields a prize = 48%

so, Expected value of Target B is given by

[tex]48\%\times 3\\\\=\frac{48}{100}\times 3\\\\=1.44[/tex]

Hence, the expected value of Target B is 1.44.

Answer:

The expected value of Target B is $ 1.44.

Step-by-step explanation:

Since,

Expected value = An outcome × its probability

Here, We have to find out the expected value of target B,

Given,

The probability of getting the price from target B = 48 % = 0.48,

Also, the value of getting the price from the target B = $ 3,

Hence, the expected value of Target B = 3 × 0.48 = $ 1.44

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