Multiple Choice
Find the expected value of the random variable. Round to the nearest cent unless stated otherwise.
-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 5, nothing otherwise. What is your expected value?
A) -$2.00
B) $2.00
C) -$0.67
D) $4.00
Correct Answer:
Verified
Correct Answer:
Verified
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