The owner of a local casino

Reference no: EM13512052

The owner of a local casino. Recently, the operations department proposed to introduce one new gambling game. There are two options. The probability distributions of payout (i.e., the money player will win) for a player in the two options are presented as follows.

Option A

Option B
Payout
Probability

Payout
Probability
$200
0.05

$100
0.01
$ 50
0.10

$ 55
0.14
$ 25
0.15

$ 35
0.15
$ 5
0.20

$ 29
0.20
$ 1
0.50

$ 1
0.50

Reference no: EM13512052

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