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Quiz 6 1. A gambler is deciding whether or not to take a bet. She must pay $40 to take the bet, but if she

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Quiz 6 1. A gambler is deciding whether or not to take a bet. She must pay $40 to take the bet, but if she wins, she will profit $225. The probability that she wins the bet is 14. What is the player's expected value in this situation? 2. Look back at problem #1. If the gambler made this exact bet many times, should she expect to win money or lose money over the long run

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