What is your expected payoff if you play the game

Reference no: EM13212742

Tickets cost $5 to play, and you get to pick a number between 1 and 20. If you guess right, you win $100. If you guess wrong, you win nothing. In either case, you must pay the $5 to play. What is your expected payoff if you play this game?

Reference no: EM13212742

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