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It costs $1,000 to enter the following game of chance, which is based on the outcome of a coin toss (fair coin). If the coin
It costs $1,000 to enter the following game of chance, which is based on the outcome of a coin toss (fair coin). If the coin comes up heads, you win and walk away with $2,000, which is a 100% rate of return. However, if the coin comes up tails, you lose and walk away with nothing, which is a -100% rate of return. What is the expected return on this gamble
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