Math Problem Statement

There is a game where the outcome is a random integer from 1 to 50. If the outcome is odd, you win $18. If the outcome is even, you win nothing. If you play the game, what is the expected payoff?

Solution

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Math Problem Analysis

Mathematical Concepts

Probability
Expected Value
Arithmetic Sequences

Formulas

Expected Value Formula: E(X) = Σ (P(x) * x)
Arithmetic sequence for odd numbers: 2n - 1

Theorems

Law of Large Numbers

Suitable Grade Level

Grades 9-12