![]() ![]() Let's say x is equal what you pay, or I guess you could say, because you might get something, what your profit is from bet one. The expected value of bet one where we'll say bet one is - Let's just define a random variable here just to be a little bit better about this. I encourage you to pause this video and try to think about it on your own. What is the expected value from bet one? Round your answer to the nearest cent. Bet two, if you catch at least two sunfish of the next three fish that you catch he will pay you 50 dollars, otherwise you will pay him 25 dollars. If the next three fish he catches are all sunfish you will pay him 100 dollars, otherwise he will pay you 20 dollars. We don't encourage betting but I guess Jeremy wants to bet. Jeremy offers you the choice of two different bets. Each time one of you catches a fish you release it back into the water. You and your friend Jeremy are fishing in a pond that contains ten trout and ten sunfish. ![]()
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