Find the expected value.You play a game where the goal is to…
Find the expected value.You play a game where the goal is to toss 2 tails in 2 tosses of a fair coin. You are given “5 to 1 odds” against tossing 2 tails in 2 tosses of a fair coin. This means that you win $5 if you succeed and you lose $1 if you fail. Find the expected value (to you) of the game. Round to the nearest cent.