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Consider this game - you roll a fair die, and if it falls 1 through 5, you win that many dollars (i.e. the number you
Consider this game - you roll a fair die, and if it falls 1 through 5, you win that many dollars (i.e. the number you rolled), but if it is six, you lose 14 dollars. Would you play the game? More specifically: would you play the game if you had only one attempt, and would you play the game repeatedly?
Reference
Jacobs, F. R. and Chase, R. B., (2020). Operations and Supply Chain Management. New York: McGrawHill/Irwin, 15th edition.
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