document.write( "<A HREF=/cgi-bin/jump-to-question.mpl?question=540488>Question 540488</A>: <I><SPAN STYLE=\"word-break: break-all;\"> You don't have to give me the answer, please just help me get started with the steps involved in solving this problem.\r<BR>\n" );
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document.write( "Suppose you roll a 6 sided die. If you roll a 1 you earn $2, if you roll a 4 you earn $4, any other number you pay $1. How much money should you expect to earn on average.\r<BR>\n" );
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document.write( "It's the average part that is throwing me.  </SPAN>\n" );
document.write( "</I><HR><TABLE width=100%><TR><TD><B><A HREF=http://www.algebra.com/>Algebra.Com's</A> Answer #353714 by </B><A HREF=/tutors/aboutme.mpl?userid=stanbon><B>stanbon(75887)</B></A><img src=\"/images/stars/stars-13.gif\" alt=\"\" >&nbsp;<A HREF=/tutors/aboutme.mpl?userid=stanbon><IMG SRC=http://www.algebra.com/images/aboutme-small.gif BORDER=0 alt=\"About Me\" VALIGN=MIDDLE></A>&nbsp;<IMG SRC=http://www.algebra.com/images/nopicture.jpg><BR>You can <A HREF=\"/cgi-bin/embed-solution.mpl?show=1&solution=353714\">put this solution on YOUR website!</A><BR><SPAN STYLE=\"word-break: break-all;\"> Suppose you roll a 6 sided die. If you roll a 1 you earn $2, if you roll a 4 you earn $4, any other number you pay $1. How much money should you expect to earn on average. <BR>\n" );
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document.write( "\"On average\" is just another term for \"expected value\".<BR>\n" );
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document.write( "Random earning numbers: 2 , 4, -1<BR>\n" );
document.write( "Matching probabilities: 1/6, 1/6, 4/6<BR>\n" );
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document.write( "Multiply each random value by its probability and add the 3 products<BR>\n" );
document.write( "to get the expected value or average.<BR>\n" );
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document.write( "Cheers,<BR>\n" );
document.write( "Stan H. </SPAN>\n" );
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