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Will pays $5 to play a game at an amusement park. He has a 25% chance of winning a $15 basketball. If he misses,
Will pays $5 to play a game at an amusement park. He has a 25% chance of winning a $15 basketball. If he misses, he receives nothing. Outcome value Probability Win: 0.25 Lose: a. What is the probability that he will miss/lose? b. Find the expected value of the game.
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An Introduction To Categorical Data Analysis
Authors: Alan Agresti
3rd Edition
1119405262, 978-1119405269
