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Consider a bet where the probability of winning is 0.6. Suppose that If you win, you win $5, if you lose, you lose $7. Suppose

Consider a bet where the probability of winning is 0.6. Suppose that If you win, you win $5, if you lose, you lose $7. Suppose you place this bet a large number of times. Compute the expected long-run average of your wins and losses. Round to two decimal places

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