# SOLUTION: How do you solve: Suppose you pay \$2.00 to roll a fair die with the understanding that you will get back \$4.00 for rolling a 2 or a 1, nothing otherwise. What is your expected n

Algebra ->  Algebra  -> Probability-and-statistics -> SOLUTION: How do you solve: Suppose you pay \$2.00 to roll a fair die with the understanding that you will get back \$4.00 for rolling a 2 or a 1, nothing otherwise. What is your expected n      Log On

 Ad: Algebrator™ solves your algebra problems and provides step-by-step explanations! Ad: Algebra Solved!™: algebra software solves algebra homework problems with step-by-step help!

 Algebra: Probability and statistics Solvers Lessons Answers archive Quiz In Depth

 Click here to see ALL problems on Probability-and-statistics Question 372453: How do you solve: Suppose you pay \$2.00 to roll a fair die with the understanding that you will get back \$4.00 for rolling a 2 or a 1, nothing otherwise. What is your expected net winnings? Thank you very much! Answer by edjones(7569)   (Show Source): You can put this solution on YOUR website!You pay \$12. to roll it 6 times. Each number comes up once. You win \$8. Your net winnings are 12-8=-\$4 -4/6= -\$2/3 or about -\$0.67 expected net winnings per roll. . Ed