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Suppose that you are offered the following deal. You roll a die. If you roll a 1, you win $15. If you roll a 2,

Suppose that you are offered the following "deal". You roll a die. If you roll a 1, you win $15. If you roll a 2, 3, or 4 you win $10. If you roll a 5, or 6, you pay $20.

A. Complete the PDF Table. List the x values from largest to smallest.

x P(x)

[ Select ] ["15", "1", "3"]

[ Select ] ["0.5", "0.17", "1"]

[ Select ] ["2", "4", "3", "10"]

[ Select ] ["0.5", "1", "0.17"]

[ Select ] ["20", "-20", "5", "6"]

[ Select ] ["0.17", "0.33", "2", "0.5"]

B. Find the expected value. [ Select ] ["0.95", "-0.19", "1.07", "1.34"]

C. Interpret the expected value. [ Select ] ["If you play many games you will likely win on average very close to this amount.", "You will win this much if you play a game.", "This is the most likely amount of money you will win."]

D. Based on the expected value, should you play this game? [ Select ] ["No, the amount you lose is $20 which is more than any amount that you can win.", "No, this is a gambling game and it is always a bad idea to gamble.", "Yes. The expected value is positive. If you play many games you are very likely to end up winning more money than you lose."]

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