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A game has an expected value to you of $1600. It costs $1600 toplay, but if youwin, you receive$100,000 (including your $1600 bet) for a
A game has an expected value to you of $1600. It costs $1600 toplay, but if youwin, you receive$100,000 (including your $1600 bet) for a net gain of $98400. What is the probability ofwinning? Would you play thisgame? Discuss the factors that would influence your decision.
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