a contestants have a chance to increase their current winnings of $1 million to $2 million. They have a 50% chance of winning. should they play?

Answer:Step-by-step explanation:Given that a contestants have a chance to increase their current winnings of $1 million to $2 million.Also given that They have a 50% chance of winning. should they playThus we have 0.50 chance of getting additional 1 million or0.50 chance of getting nothing.Expected value of the gain by playing=[tex]0.5(1000,000)+0.5(0)\\= 500,000 $[/tex]Since expected value is positive, they can play and try.