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# (Solved): Extra Credit Question 3) (2 points) Consider the following game. You have to pay 10 dollars to play. ...

Extra Credit Question 3) (2 points) Consider the following game. You have to pay 10 dollars to play. If you play there is a basket with 3 slips of paper, one says 10 dollars, one says 5 dollars and one says 1 dollar. You randomly select one of the pieces of the paper, record the value and put it back into the basket. Then you pick again. You combine this second pick with the first pick and that is the amount of money you win. So for example if you draw the 5 dollar paper first and the 1 dollar paper srecond you win 6 dollars in total. Fill in the probability model below and calculate the expected value of this game. \table[[Outcome,Probability],[Win 20 dollars,],[Win 15 dollars,],[Win 11 dollars,],[Win 10 dollars,],[Win 6 dollars,],[Win 2 dollars,]]

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