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Expected Value and Weighted Outcomes
Grade Level
GMAT
GMAT.122 Expected Value and Weighted Outcomes
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A game pays $24 with probability 3/8 and pays a $6 consolation amount with probability 5/8. What entry fee would make the expected net value equal to $0?
A
$9.00
B
$18.00
C
$15.00
D
$12.75
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