You have 2/6 (1/3) chance of winning $3 and 4/6 (2/3) chance of losing $1.
E = (-$1 * 2/3) + ($3 *1/3) = ?
please help!! pretty please!!
i need to know how to this problem ASAP!
suppose you pay $1.00 to roll a fair die with the understanding that you will get back $3.00 for rolling a 5 or a 1, nothing otherwise. what is your expected value?
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