Assignment:
Provide one example to show how you can use the Expected Value computation to assess the fairness of a situation (probability experiment). Provide the detailed steps and calculations.
- Develop a tree diagram for tossing two, eight-sided gaming dice to figure out how many possibilities there are.
- Discuss the purpose of using such a visual in working out probability.
Provide complete and step by step solution for the question and show calculations and use formulas.