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A fair coin is flipped twice and the following payoffs areassigned to each of the...

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Economics

A fair coin is flipped twice and the following payoffs areassigned to each of the four possible outcomes: H-H: win 24: H-T:win 9; T-H: lose 7; T-T: lose 16. What is the expected value ofthis gamble? Instructions: Round your answer to 1 decimalplace.

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