Let the random variable X represent the winnings at one play of a particular game. The expected value of X is known to be -$0.32. this means that in the long run, the average amount lost by the player per play of the game will be 32 cents?

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Quizplus · Accepted Answer

The expected value of -$0.32 indicates that, on average, a player will lose 32 cents per play of the game in the long run.

Let the Random Variable X Represent the Winnings at One