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OpenStudy (anonymous):
A person randomly selects one of the four envelopes shown below. Each envelope contains a check that the person gets to keep. However , before the person can select an envelope, he or she must pay $10 to play. For the exercise determine a) the expectation for a person who wins and b) the fair price to play Two envelopes contain a $15 check and one envelope contains a $0 check Please help i'm confused
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