Mathematics, 31.03.2021 05:00 Ewesley15

In a game of chance, a contestant must choose a number from one of three categories. Correct number choices in Category A are worth $1500,
but there is a penalty of $1000 for each incorrect choice. Correct number
choices in Category B are worth $1000, with a $500 penalty for each
incorrect choice. Correct number choices in Category C are worth $500,
with no penalty for an incorrect choice. The probability of choosing
correctly is 0.05 for Category A, 0.15 for Category B, and 0.25 for Category
C. Which category has the highest expected value? Enter answer as
follows: Game A = , Game B =, Game C =, Game that has the highest
expected value. Don't put dollar signs in front of the amounts. *

Answers: 3

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In a game of chance, a contestant must choose a number from one of three categories. Correct number...

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