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    Calculating expected payoff for a gambler

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    If a gambler rolls two dice and gets a sum of four, he wins $10; and if he gets a sum of three, he wins $25. The cost to play the game is $5. What is the expectation of this game?

    Place your answer, rounded to two decimal places, in the blank. However, if the expected payoff is negative be sure to use a minus sign. For example, -1.23 would be a legitimate entry.

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    Solution Summary

    The solution describes the steps for calculating expected payoff in gambling game.