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
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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
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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
