can you please help me

Question

A bag contains 5 gold marbles, 7 silver marbles, and 29 black marbles. The rules of the game are as follows: You randomly select one marble from the bag. If it is gold, you win $4, if it is silver, you win $2. If it costs $1 to play, what is your expected profit or loss if you play this game?

Answer 1

Total number of marbles is 5 + 7 + 29 = 41.

Event P(Event) Net Winnings P(Event) * Net Winnings

Gold 5/41 4 - 1 = 3 15/41

Silver 7/41 2 - 1 = 1 7/41

Black 29/41 -1 -29/41

sum -7/41 = $0.17 loss