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Consider a bet where the probability of winning is 0.8. Suppose that If you win, you win $6, if you lose, you lose $24. Suppose
Consider a bet where the probability of winning is 0.8. Suppose that If you win, you win $6, if you lose, you lose $24. 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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Finite Mathematics and Its Applications
Authors: Larry J. Goldstein, David I. Schneider, Martha J. Siegel, Steven Hair
12th edition
978-0134768588, 9780134437767, 134768582, 134437764, 978-0134768632
