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You are invited to participate in the following fame, which is played with one die. Assume the die to be fair.

The rules are as follows: Investment is 100 THB. If you roll a 1,2,3 or 4 you lose your investment. If you roll a 5, I will pay you 150 THB. If you roll a 6, I will pay you 500 THB.

Should you participate in this game? Why/why not?

Use 5 step-procedure for testing a hypothesis.

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