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Practice By Tag: Expected Values

Question: 2017 Winter Final - 20
1 . Consider a coin that comes up heads with probability 1/5 and comes up tails with probability 4/5. You flip this coin twice, independently of each other. For each heads, you win \$100. For each tails, you win \$50.
What is the expected value $\mathbb{E}(X)$ of $X$?
(a)
100
(b)
80
(c)
140
(d)
120