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What is the expected value? of the game

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Reference no: EM132385037

You are playing a game that consists of tossing three? coins. You win ?$4 if all three tosses are heads and you lose ?$1 for any other result.

What is the expected value? (to you) of the game? (Round your answer to the nearest hundredth.)

IF the expected value of the game described above was $1.20, would you expect to win or lose money in 1? game? 100 games?

Reference no: EM132385037

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