A game is said to be fair if the expected value is:
A)positive.
B)negative.
C)large.
D)zero.

Question

Quizplus · Accepted Answer

A fair game has an expected value of zero, meaning that the player is neither expected to gain nor lose money in the long run. If the expected value were positive (A), the player would be expected to win money over time, making the game unfair in favor of the player. Similarly, if the expected value were negative (B), the player would be expected to lose money over time, making the game unfair in favor of the house. The size of the expected value (C) is not relevant to whether a game is fair or not.

A Game Is Said to Be Fair If the Expected