Suppose new rules are set for the same game. Everyone pays $2 per roll. Two dic are rolled and the outcomes are summed. This time: • Player A wins $4 if the sum is 5 or less Player B wins $2 if the sum is 6, 7 or 8 • Player C wins $4 if the sum is 9 or more. (a) Find the expected value for each player and explain its meaning.

MATLAB: An Introduction with Applications
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Suppose new rules are set for the same game. Everyone pays $2 per roll. Two dice
are rolled and the outcomes are summed. This time:
. Player A wins $4 if the sum is 5 or less
•
Player B wins $2 if the sum is 6, 7 or 8
Player C wins $4 if the sum is 9 or more.
•
(a) Find the expected value for each player and explain its meaning.
Transcribed Image Text:Suppose new rules are set for the same game. Everyone pays $2 per roll. Two dice are rolled and the outcomes are summed. This time: . Player A wins $4 if the sum is 5 or less • Player B wins $2 if the sum is 6, 7 or 8 Player C wins $4 if the sum is 9 or more. • (a) Find the expected value for each player and explain its meaning.
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