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Solve the Problem. -Suppose You Pay $3.00 to Roll a Fair Die with Fair

Question 108

Multiple Choice

Solve the problem.
-Suppose you pay $3.00 to roll a fair die with the understanding that you will get back $5.00 for rolling a 3 or a 6, nothing otherwise. What is your expected value?


A) $3.00
B) -$1.33
C) -$3.00
D) $5.00

Correct Answer:

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