For a game, the average amount you can expect to win (or lose) per play in the long run can be measured by:
A)standard value.
B)winning wager.
C)expected value.
D)value at risk.

Question

Quizplus · Accepted Answer

The average amount you can expect to win (or lose) per play in the long run is referred to as the expected value. The expected value is a measure of central tendency that accounts for both the probabilities of all possible outcomes and the potential values associated with those outcomes. Based on this definition, the expected value is the most appropriate answer.

For a Game, the Average Amount You Can Expect to Win