Mathematics, 08.04.2021 21:20, mez59

Lucas is fishing in a pond where there are exactly 3 walleye and 1 catfish. He has an equal chance of catching each fish. If Lucas catches a catfish, the game warden will make him stop fishing because catfish are currently
quite endangered in this pond.
When Lucas catches a walleye, he keeps it so that he can feed his entire family. If he can catch all 3 walleye in
the pond, he can feed his family which is worth a total of $100 to him. If he can catch 2 walleye, he will only be
able to feed himself, which is worth $20 to him. Any other outcome is worth $0 to Lucas.
What is the expected value of Lucas going fishing?

Answers: 3

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Lucas is fishing in a pond where there are exactly 3 walleye and 1 catfish. He has an equal chance o...