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A school fair offers a game with a winning probability of 0.1. Winning the game has a $10 prize. How much should the game cost to play if it is fair?

A First Course in Probability (10th Edition)

10th Edition

ISBN:9780134753119

Author:Sheldon Ross

Publisher:Sheldon Ross

Chapter1: Combinatorial Analysis

Section: Chapter Questions

Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...

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A school fair offers a game with a winning probability of 0.1.

Winning the game has a $10 prize.

How much should the game cost to play if it is fair?

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