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#7
10-22-2007, 05:37 PM
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Re: Econ HW - Expected Value
How much would you pay to play this game with me?:
You pay me some amount of dollars. You roll a 6-sided die. I pay you the number dollars equal to the number that comes up. You should be willing to pay no more than the expected value of the die. Do you still think this number is 1? 
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