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Scholarship A is worth $3000 and costs $10 to apply. Scholarship B is worth $4000 and costs $25 to apply. You have a 5% chance of receiving Scholarship A and a 1% chance of receiving the Scholarship B

 May 9, 2020
 #1
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What's your question?

 May 9, 2020
 #2
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(a) What is your expected value for Scholarship A?

Guest May 9, 2020
 #3
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I suppose 4000-10= 3990, since it's 5%, divide that by 20? I think but might not be right answer it's been a while since I've last done expected value 

hugomimihu  May 9, 2020

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