Which of the following statements are true? Mark all that apply.
If the Expected Value of a game is 1, we say that it is a 'fair game'
If the odds for an event are 3 to 5, then the odds against that event are 5 to 3.
Expected Value is the actual gain or loss each time an event takes place.
The probability of an impossible event is 0.
Expected Value is the average gain or loss of an event if the procedure is repeated many times.
The probability of an event that is certain is 1.