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My friend, Kevin, thinks he is psychic. He believes he can predict the correct outcome when a coin is tossed 75% of the time. If
My friend, Kevin, thinks he is psychic. He believes he can predict the correct outcome when a coin is tossed 75% of the time. If I pay $3 to play this game, Kevin will pay me $5 if he is wrong. If I play this game 50 times how much would I win? How much would I pay? What would the net
gain/loss be?
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