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Question 4 The gambler claims that one of the casino games is a fair game. By fair game, we mean that the expected payoff is

Question 4

The gambler claims that one of the casino games is a fair game. By fair game, we mean that the expected payoff is equal to both sides. You know for a fact that the underlying process is a martingale. Can the gambler be correct? Explain why or why not.

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