In a gambling game, for every play, there is a 0.1 probability that you win $7 and a 0.9 probability that you lose $1. What is the expected value of this game?

Step-by-step explanation:

The probability of winning $ 7 = 0.1

The probability of losing $ 1 = 0.9

The expected value of this game = total probability of winning and losing

  = 0.1 (7) + 0.9 (-1)

[ -1 indicates losing and so negative sign ]

   = 0.7 - 0.9

   = - 0.2

   = $ 0.2

explanation:

the loan estimate encourages consumers to shop. since it is the lenders who are required to issue a standardized loan estimate in a specific time frame, this way consumers are provided an opportunity to compare lenders and their products. otherwise consumer wouldn't know the benefits offered by other lenders.  

if a loan originator does not provide a loan estimate within 3 business days of receiving a completed loan application, that lender is in violation. lenders are required to issue a loan estimate within 3 days of applying for a loan or within 7 days prior to closing. having a loan estimate has following information.

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