That expression is the expected value of your winnings, or "the average amount you will win (or lose) per game in the long run".
Answer:
Step-by-step explanation:
Given that a game has 3 possible outcomes, with probabilities p1, p2, and p3
The amount win or lose for each outcome is v1, v2, and v3, respectively.
If X is the amount of win or lose then x has the following prob distribution
[tex]X v_1 v_2 v_3\\Pr. p_1 p_2 p_3\\[/tex]
Hence Expected value of x = average of x
=[tex]p1v1 + p2v2 + p3v3[/tex]
Thus answer is
Option b) The average amount you will win (or lose) per game in the long run.
