document.write( "Question 516952: In a dice game, you roll a dice once for a $5 wager. You win $8.00 for rolling a 3 or a 4, and lose the original wager otherwise. What is your expected gain in this game? \n" ); document.write( "

Algebra.Com's Answer #344569 by Edwin McCravy(20060) $\"\"$ $\"About$

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In a dice game, you roll a dice once for a $5 wager. You win $8.00 for rolling a 3 or a 4, and lose the original wager otherwise. What is your expected gain in this game?
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document.write( "I will assume you get to keep your $5 wager if you win.  (If not the\r\n" );
document.write( "8 must be replaced by 3)\r\n" );
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document.write( "Winnings   Probability   \r\n" );
document.write( "   X           P(X)          X*P(X)\r\n" );
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document.write( "   8        2/6 = 1/3     8(1/3) =   8/3\r\n" );
document.write( "  -5        4/6 = 2/3    -5(2/3) = -10/3\r\n" );
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document.write( "                            Total = -2/3\r\n" );
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document.write( "You expect to average a loss of 2/3 of a dollar or  cents per game,\r\n" );
document.write( "if you played it many times.\r\n" );
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document.write( "Edwin

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