Expected gain and negative gain

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Reference no: EM1387067

A gambler places one $20 bet on 3 football games and has a 50% chance of winning his bet on each game. The bookie keeps his $20. The gambler is paid later as follows, depending on the number of winners he picked. What is his expected gain? Remember, a loss is a negative gain, and that the bookie keeps the gambler's $20.

Reference no: EM1387067

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