Chris Has Determined That the Probability of Earning a 95

Max is considering the following offer: a 50% chance of winning $10 and a 50% chance of losing $9.The expected value of this gamble is A)$10. B)$5. C)50 cents. D)$1.

Cal has two choices.The first offers a 50% chance of winning $20 and a 50% chance of losing $20.The second option offers a 20% chance of winning $100 and an 80% chance of losing $20.Which choice has the larger expected value? A)Both choices have the same expected value,so Cal would be indifferent between the two options. B)The 50%-50% chance. C)Both choices have the same expected value but the 50%-50% is better because the chance of payoff is greater. D)The 20%-80% choice.