There are 15 black balls, 14 red balls, and 11 white balls in a jar,...
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There are 15 black balls, 14 red balls, and 11 white balls in a jar, and you get to randomly pick one ball without looking. If you draw a black ball, you win $500. If you pick a red one, you lose $10. If you pick a white one, you lose $100. What is the expected value of picking a ball?
There are 15 black balls, 14 red balls, and 11 white balls in a jar, and you get to randomly pick one ball without looking. If you draw a black ball, you win $500. If you pick a red one, you lose $10. If you pick a white one, you lose $100. What is the expected value of picking a ball?
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