You play a game where you roll a single die. You pay $1 to play, and the payouts are $0.50 if you roll an even number, $2 if you roll a 1, and $1 if you roll a 3 or 5. 2. What are the odds for winning

You play a game where you roll a single die. You pay $1 to play, and the payouts are $0.50 if you roll an

even number, $2 if you roll a 1, and $1 if you roll a 3 or 5.
2. What are the odds for winning money if you play this game? Show your work and Explain.
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3. What is the expected value of this game? Show your work and Explain what the results mean.

1 Answer

You play a game where you roll a single die. You pay $1 to play, and the payouts are $0.50 if you roll an even number, $2 if you roll a 1, and $1 if you roll a 3 or 5. 2. What a…

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