Consider a lottery with four possible outcomes,A,B,C,and D.The associated payoffs are: A - $10,B - $30,C - $70,and D - $150.The probabilities are , , ,and The expected value of this lottery is
A) $23
B) $46
C) $65
D) $260

Name: Consider a lottery with four possible outcomes,A,B,C,and D.The associated payoffs are: A - $10,B - $30,C - $70,and D - $150.The probabilities are , , ,and The expected value of this lottery is A) $23 B) $46 C) $65 D) $260
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Question

Consider a lottery with four possible outcomes,A,B,C,and D.The associated payoffs are: A - $10,B - $30,C - $70,and D - $150.The probabilities are  ,  ,  ,and  The expected value of this lottery is
A) $23 
B) $46 
C) $65 
D) $260

Quizplus · Accepted Answer

The Answer is B

Consider a Lottery with Four Possible Outcomes,A,B,C,and D