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Heads and Tails Are Equally Likely but You Win $3

Question 9

Multiple Choice

Heads and tails are equally likely but you win $3.00 on heads and lose $1.00 on tails

A) the expected value is $0.50
B) the expected value is -$0.50
C) the expected value is $1.00
D) the expected value is $0.00

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