Solution) You pay $6 to play in a game where you will roll a die with payoffs as follows: $8 for a 6, $7 for a
Question: You pay $6 to play in a game where you will roll a die with payoffs as follows: $8 for a 6, $7 for a 5, and $4 for any other results. What are you expected winnings? Is the game fair?
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Deliverables: Word Document
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