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You play a gambling game with your friend in which you win 30% of the time and lose 70% of the time. When you lose, you lose $1. What profit should you earn when you win in order for the game to be fair? (Round your answer to the nearest cent.)

Respuesta :

amna04352

Answer:

$ 2.33

Step-by-step explanation:

Fair game is when expected profit = 0

0.3(X) + 0.7(-1) = 0

0.3X = 0.7

X = 7/3

Approximately 2.33

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