ST Alpha - "I feel stupid on this. I have an expected value question. " (Reading a Post)

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I feel stupid on this. I have an expected value question.

Posted by Will Hunting (aka JoeMetz) Jan 23 '09, 20:52

Each game, I bet $1.10. If I win, I get $2 back (the $1.10 and 90 cents profit). if I lose, I get zip back.

At what point is my percentage that I need to win to break even?

And what is my expected profit if I win 60% of the time?

i hate that i'm unable to do this, but my mind is fubar'ed the last 2 days.

Responses:

you need to win 55% to break even. -- nm - znufrii Jan 23, 20:56
55% - nubby Jan 23, 20:56 4
- Can you show me the math? - Will Hunting Jan 23, 20:59 3
  - (+0.90) x + (-1.10) (1-x) = 0 - nubby Jan 23, 21:01 2
    - my head just exploded -- nm - i'm not dead yet ! Jan 23, 21:17 1
      - CSI:ST? -- nm - nubby Jan 23, 21:28

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I feel stupid on this. I have an expected value question.

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