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At a carnival game, you can either pay $1.00to play game A and have a 10% chance ofwinning $15.00 or pay $3.00 to play game Band have a 15% chance of winning $20.00.What is the expected value of playing
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Aug 27, 2023
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At a carnival game, you can either pay $1.00to play game A and have a 10% chance ofwinning $15.00 or pay $3.00 to play game Band have a 15% chance of winning $20.00.What is the expected value of playing eachgame?
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Chrystopher
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The expected value is given by:
For game A:
For game B:
Hendry Ten
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Sep 2, 2023
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Hendry Ten
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