In the Game of Craps, Two Dice Are Rolled, and People

question 64

Multiple Choice

In the game of craps, two dice are rolled, and people bet on the outcome. For example, you can bet $1 that the dice will total 11. The probability that you win is $\frac { 1 } { 18 }$ , and if you win, your profit is $15.
If you lose, you lose $1. What is the expected value of your profit?

• A) $0.83
• B) -$0.94
• C) -$0.11
• D) $0.11

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The rate at which a new product moves from conception to commercial availability, reflecting a company's ability to innovate and compete.

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The process of shaping an organization's structure and roles to align with its strategies, goals, and environment, ensuring it can operate effectively.

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Achieving significantly better outcomes or efficiencies, usually in the context of organizational or individual work, through effective strategies and practices.

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