Question: How do you make decisions? Some will opt for a random strategy, some will trust their gut and others will try to make decisions that

How do you make decisions? Some will opt for a random strategy, some will trust their gut and others will try to make decisions that make the most sense. One such mathematical strategy to analyze these types of decisions is expected value. Expected value is the most likely value that would occur if the situation happened infinitely many times. By understanding expected value, people can make stronger decisions and make numerical sense of a variety of problems. In each of the following problems, create probability distribution tables, calculate the expected value and make a decision based on the data

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