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Find the fair value for this scenario per one game

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Reference no: EM132552398

Consider a game of flipping a biased coin, where the probability of obtaining a head is 0.6. The person offering the game will pay $1 every time the coin lands on heads and $0.5 every time the coin lands on tails. Find the fair value for this scenario per one game.

Reference no: EM132552398

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