Suppose That,in an Experimental Setting,100 Students Are Asked to Choose

Suppose that,in an experimental setting,100 students are asked to choose between Gamble A and Gamble B,where:

Gamble A: The student will receive $5,100 with a 70 percent probability and $200 with a 30 percent probability.

Gamble B: The student will receive $5,100 with a 50 percent probability,$200 with a 25 percent probability,and $0 (nothing) with a 25 percent probability.

What is the expected value (EV) of Gamble B?

A) EV =0.7 * ($5,100) + 0.3 * ($200)
B) EV = 0.5 *($5,100) + 0.25*($100) +0.25 * ($25)
C) EV = 0.5 *($5,100) +0.25 *($200) + 0.25 * ($25)
D) EV= 0.5 *($5,100) + 0.25 * ($200) + 0.25 *($0)
E) EV =0.5 *($2,600) + 0.25 *($2,600) + 0.25 * ($0)