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Mathematics, 04.12.2020 19:20 aprilhaters
5. Consider the following game. You pay me an entry fee of dollars; then I roll a fair die. If the die shows a number less than 3 I pay you nothing; if the die shows a 3 or 4, I give you back your entry fee of x dollars; if the die shows a 5, I will pay you $1; and if the die shows a 6, I pay you $3. What value of x makes the game fair (in terms of expected value) for both of us? A $2 B) $4 C) $1 D) $0.75 E) $0.5
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5. Consider the following game. You pay me an entry fee of dollars; then I roll a fair die. If the d...
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