Question

Suppose a basketball player has made 188 out of 376 free throws. If the player makes the next 3 free throws, I will pay you$23. Otherwise you pay me $4.

Step 1. Find the expected value of the proposition. Round your answer to two decimal places. Step 2. If you played this game 994 times how much would you expect to win or lose? (Losses must be entered as negative.)

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