A bag contains 8 black chips and 4 white chips. Dexter and Thanh play the following game. Dexter randomly selects one chip from

Question

A bag contains 8 black chips and 4 white chips. Dexter and Thanh play the following game. Dexter randomly selects one chip from the bag. If the chip is black, Dexter gives Thanh $5. If the chip is white, Thanh gives Dexter $12.
a) Determine Dexter's expectation.
b) Determine Thanh's expectation.
a) Dexter's expectation is dollars.
(Round to the nearest cent as needed.).
b) Thanh's expectation is dollars.
(Round to the nearest cent as needed.)

Kunduz · Accepted Answer

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