There is a bag containing numbers from 1 to n. A number is drawn at random from the bag and put back.(let the number be "X") A second number is drawn after that. (let the number be "Y")
THe person gets 10$ if X>y, he has to pay 5$ is x<y and gets 0$ is x=y.
What is the expected payoff of the game?
(PS: I am not sure how to calculate the probabilities of x>y,x<y). The prob of x=y should be 1/n^2 most probably but not sure.. Any help is appreciated)