Jon S. answered • 04/02/22
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outcome pay probability
win -3 0.5
loss 5 0.5
expected outcome = -3 * 0.5 + 5 * 0.5 = 1 gain
Kailey D.
asked • 04/02/22Probability of winning
Supposed a certain game is fair and costs $3 if you lose and has a net payoff of $5 if you win. The only possible outcomes of the game are winning and losing.
What is the probability of winning?
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