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(a) Over the long term, what is your expected profit of playing the game?

(a) Over the long term, what is your expected profit of playing the game?

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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3. Suppose you play a game of chance in which you roll two fair dice. You pay $2 to enter the game. You win $10 if you get all two dice with an even number of dots on the top face. Otherwise, you win nothing. (In case, you don't get your $2 back). (a) Over the long term, what is your expected profit of playing the game? (b) If you play this game 100 times, how much do you expect to win/lose?
Transcribed Image Text:3. Suppose you play a game of chance in which you roll two fair dice. You pay $2 to enter the game. You win $10 if you get all two dice with an even number of dots on the top face. Otherwise, you win nothing. (In case, you don't get your $2 back). (a) Over the long term, what is your expected profit of playing the game? (b) If you play this game 100 times, how much do you expect to win/lose?
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