A bag contains 8 black chips and 4 white chips. Dexter and Thanh play the...
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A bag contains 8 black chips and 4 white chips. Dexter and Thanh play the following game. Dexter randomly selects one chip from the bag. If the chip is black, Dexter gives Thanh $5. If the chip is white, Thanh gives Dexter $12.a) Determine Dexter's expectation.b) Determine Thanh's expectation.a) Dexter's expectation is dollars.(Round to the nearest cent as needed.).b) Thanh's expectation is dollars.(Round to the nearest cent as needed.)
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