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You roll a fair die. On your first roll, if it comes up a 6, you win $100. If not, you get to roll again.

You roll a fair die. On your first roll, if it comes up a 6, you win $100. If not, you get to roll again. On your second roll, if you get a 6, you win $50. If not, you lose and win nothing.

Do all calculations for this problem by hand. (2 points each part)

a.Create a probability model for the amount you win.Leave your probabilities as fractions.

b.Find the expected amount you'll win.

c.What would you be willing to pay to play this game and why?

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