Question: please show steps to reach answer Example: A guy at a bar sets up a dice game with these rules. Bet 51. Roll two dlce.
please show steps to reach answer

Example: A guy at a bar sets up a dice game with these rules. Bet 51. Roll two dlce. If you roll a 2 or 12, you win $19. Otherwise you lose and win 51}. There are two ways that I would expect someone to assign values in this situation. Either way, the sample space is 5' = {2,3,45,53,33,11341.12}, and the two relevant events are... W = the event you. win = {2.12} L = the even you win = {3.4.5.6.?,B.9.10.11} First way: Assign the amount you win, not including the bet. The outcomes 2 and 12 get assigneoI a value of 1D, the others get assigned a value of i}. In a business class, they might call these the "net values\". Second way: Assign the amount you win, minus the amount you bet. The outcomes 2 and 12 get assigned a value of 9, the others get assigned a value of 1. In a business class, they might call these the 'net values\". Assignment: Calculate the expected value both ways. Compare the results, and think about what they mean
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