Solved: Make Sense? In 2629, determine whether each statement makes sense or does not
Chapter 11, Problem 27(choose chapter or problem)
In Exercises 26–29, determine whether each statement makes sense or does not make sense, and explain your reasoning.Here’s my dilemma: I can accept a $1000 bill or play a dice game ten times. For each roll of the single die,
• I win $500 for rolling 1 or 2.
• I win $200 for rolling 3.
• I lose $300 for rolling 4, 5, or 6.
Based on expected value, I should accept the $1000 bill.
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