A Los Vegas slot machine requires 25 cents to play. It gives payouts, per play, based on the following probabilities:
|
Pay out in $
|
0.00
|
0.25
|
1.00
|
10.00
|
|
Probability
|
0.88
|
0.08
|
0.03
|
0.01
|
What is the expected amount of money gained per play from this slot machine?
- 0.10
- 0.01
0
0.04
0.15