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Expected Value and Fairnesslauuctlons: Find the expected Jues ard arswer the questions based on tne given scenario: You and fricnd have created camival gare for You...

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Expected Value and Fairnesslauuctlons: Find the expected Jues ard arswer the questions based on tne given scenario: You and fricnd have created camival gare for Your classmates: You plan t0 charge 52 for cach time student play:. and the Payout for & win Is 55. According t0 your calculations, the probablllty ot win Is What your expected value for this gemetThe expected valueThls means that on avcrage, you can exPcct t0 Os2each time somcone plays your game;Mathematically; your gome considered

Expected Value and Fairness lauuctlons: Find the expected Jues ard arswer the questions based on tne given scenario: You and fricnd have created camival gare for Your classmates: You plan t0 charge 52 for cach time student play:. and the Payout for & win Is 55. According t0 your calculations, the probablllty ot win Is What your expected value for this gemet The expected value Thls means that on avcrage, you can exPcct t0 Os2 each time somcone plays your game; Mathematically; your gome considered "fair" game for you and the players?

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