What is the correct interpretation of this value

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Reference no: EM13186540

Suppose that for X = net amount won or lost in a lottery game, the expected value is E(X) = -$0.50. What is the correct interpretation of this value?

A) The most likely outcome of a single play is a net loss of 50 cents.
B) A player will have a net loss of 50 cents every single time he or she plays this lottery game.
C) Over a large number of plays the average outcome for plays is a net loss of 50 cents.
D) A mistake must have been made because it's impossible for an expected value to be negative

Reference no: EM13186540

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