Introduction to probability distribution

Reference no: EM13102961

At one Las Vegas casino, if you net $5 that a 12 will come up as the total points on two dice, and you win, you will get back $50. If any total other than 12 comes up, you get back $0. based on the assumption that the dice are fair, what is the expected payoff for placing this bet?

Reference no: EM13102961

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