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March 27, 2017

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A friend offers you the following game: You will roll 2 fair dice. If the sum of the two numbers obtained is 2,3,4,9,10,11,or 12 the friend will pay you $20. However, if the sum of the two numbers is 5, 6,7, or 8, you pay your friend $20. This friend points out to you that there are 7 winning numbers and 4 losing numbers. What is the expected value of this game? Is this a fair game to you?

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