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Find the expected value of the random variable. Round to the nearest cent unless stated otherwise. Suppose you pay $3.00 to roll a fair die
Find the expected value of the random variable. Round to the nearest cent unless stated otherwise.
Suppose you pay $3.00 to roll a fair die with the understanding that you will get back $5.00 for rolling a 4 or a 6, nothing otherwise. What is your expected value?
A. -$3.00
B. $3.00
C. -$1.33
D. $5.00
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