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    expected value of this chance node

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    I am trying to figure this out a chance node on a decision tree has four possible outcomes worth $10,000, $20,000, $30, 000 and minus $100,000 respectively. The probabilities of these outcomes occurring are assessed as 10%, 25%, 50%, and 15% correspondingly. Draw the decision tree. What is the expected value of this chance node?

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    https://brainmass.com/statistics/central-tendency/drawing-decision-tree-expected-value-chance-node-284769

    Solution Summary

    The expected value of this chance node is determined.

    $2.19

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