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Find the Expected Value

Question 132

Multiple Choice

Find the expected value.
-Suppose you pay $2.00 to roll a fair die with the understanding that you will get back $4.00 for rolling a 4 or a 1, nothing otherwise. What is your expected net winnings?


A) -$2.00
B) $4.00
C) $2.00
D) -$0.67

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