Your friend offers to place a bet with you. He will pay you $4 if the Miami Heat win the basketball game on Tuesday nigh

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Your friend offers to place a bet with you. He will pay you $4 if the Miami Heat win the basketball game on Tuesday nigh

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Your Friend Offers To Place A Bet With You He Will Pay You 4 If The Miami Heat Win The Basketball Game On Tuesday Nigh 1
Your Friend Offers To Place A Bet With You He Will Pay You 4 If The Miami Heat Win The Basketball Game On Tuesday Nigh 1 (12.37 KiB) Viewed 20 times
Your friend offers to place a bet with you. He will pay you $4 if the Miami Heat win the basketball game on Tuesday night. But, you will pay him $5 if the Houston Rockets win. The Miami Heat have a 60% chance of winning, whereas the Houston Rockets have a 40% chance. What are your expected winnings for this bet? Round your answer to one decimal place (i.e. -0.6 would indicate an expected winnings of negative 60 cents).
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