Solved: If you bet 5 that the next roll of the dice will be 2 you, Managerial Economics

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If you bet 5 that the next roll of the dice will be 2 you

A) In a casino game craps, you can bet the next roll of the two dice with result in a total of 2. The probability of rolling 2 is 1/36. Find the odds against rolling 2.

B) If you bet $5 that the next roll of the dice will be 2, you will collect $155 (including your $5 bet) if you win. First identify the net profit, then find the payoff odds.

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Managerial Economics: If you bet 5 that the next roll of the dice will be 2 you

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