document.write( "Question 1102995: A game is played using 1 dice. If the dice is rolled and shows a 5,
\n" ); document.write( "the player wins $5.00. If the dice is rolled and shows a 4, the player
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\n" ); document.write( "A: if there is a charge of $1.00 to play the game, what is the game's
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\n" ); document.write( "C: What are the odds you will win some money playing this game? \n" ); document.write( "

Algebra.Com's Answer #717721 by Edwin McCravy(20065) $\"\"$ $\"About$

You can put this solution on YOUR website!
what is the games expected value?
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document.write( "We will subtract the $1 that you play to win, so that\r\n" );
document.write( "you will win $4 if you roll a 5 and $3 if you roll a\r\n" );
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document.write( "                                 Individual  \r\n" );
document.write( "Roll   Net win    Probability    Expectation\r\n" );
document.write( " 1       $0          1/6         $0(1/6)=$0\r\n" );
document.write( " 2       $0          1/6         $0(1/6)=$0\r\n" );
document.write( " 3       $0          1/6         $0(1/6)=$0\r\n" );
document.write( " 4       $3          1/6         $4(1/6)=$3/6\r\n" );
document.write( " 5       $4          1/6         $5(1/6)=$4/6\r\n" );
document.write( " 6       $0          1/6         $0(1/6)=$0\r\n" );
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document.write( "              Total expectation = $(3/6+4/6) = $(7/6) = $1.17\r\n" );
document.write( "                                          (to nearest penny)\r\n" );
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\n" ); document.write( "B: what does this value mean?

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document.write( "It means that if you play the game many times, you will lose some \r\n" );
document.write( "and win some, but your average winning will be about $1.17 per game.\r\n" );
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document.write( " C: What are the odds you will win some money playing this game.\r\n" );
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document.write( "There are 6 possible rolls.  On the average out of every 6 you will \r\n" );
document.write( "win some money 2 times and win no money 4 times.  So the odds in \r\n" );
document.write( "favor of winning some money are 2 to 4, or 2:4, which reduces to\r\n" );
document.write( "1:2.\r\n" );
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document.write( "Edwin

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