Gve one example to show how you can use expected value

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• Provide one example to show how you can use the Expected Value computation to assess the fairness of a situation (probability experiment). Provide the detailed steps and calculations.

• Develop a tree diagram for tossing two, eight-sided gaming dice to figure out how many possibilities there are. Discuss the purpose of using such a visual in working out probability.

Reference no: EM13472668

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