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Expected Value and Tree Diagram

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-Provide one example to show how you can use the Expected Value computation to assess the fairness of a situation (probability experiment). Provide the detailed steps and calculations.
-Develop a tree diagram for tossing two, eight-sided gaming dice to figure out how many possibilities there are.
-Discuss the purpose of using such a visual in working out probability.

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Solution Summary

The solution gives some discussion on the expected value and its fairness. Also, I design a tree diagram of dice tosses and discuss its use for computing probability. Attached in Word.

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