Question: I am lost. here is what I did. I put 4/9 under even probability I put 5/9 under odd probability I put the payout for
I am lost.
here is what I did.
I put 4/9 under even probability
I put 5/9 under odd probability
I put the payout for even as 5 because we pay 5 to play the game, and if we win, we are only winning $5.
I put 0 under odd payout.
E.V= ($5)(4/9)+(5/9)(0)+ (-5)(1)
but I got -2.77 and the answer was -.55

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