Answer:
-$0.237
Explanation:
The player making a single shoot is 392/441 = 0.889
That makes a percentage of 88.9%.
The probability of making the next 3 shots as 0.889 × 0.889 × 0.889 = 0.703.
The probability of him not making all of the next 3 shot is 1 - 0.703
So now to find the expected value,
P(makes all the three shots) * (Value when you win) + P(misses the three shots) * (value when you lose)
0.703 * $6 + (1 - 0.703)*(-$15)
$4.218 - $4.455
= -$0.237
