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QUESTION
To play a game, you must pay 5 dollars for each play. There is a 10% chance you will wim 5 dollars, a 40% chance you will win 7 dollars, and a 50% chance you will win only 3 dollarsa. what are the mea
To play a game, you must pay 5 dollars for each play. There is a 10% chance you will wim 5 dollars, a 40% chance you will win 7 dollars, and a 50% chance you will win only 3 dollars
a. what are the mean and standard deviation of your net winnings?
b. You okay twic. Assuming the plays are independent events, what are the mean and standard deviation of yoir total winnings
