Answer following –no word count or format requirements – must be knowledgeable answers.

Probability Please respond to the following:

• 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.