SOLUTION: A game of chance involves rolling an unevenly balanced 4-sided die. The probability that a roll comes up 1 is 0.12, the probability that a roll comes up 1 or 2 is 0.45, and the pr
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-> SOLUTION: A game of chance involves rolling an unevenly balanced 4-sided die. The probability that a roll comes up 1 is 0.12, the probability that a roll comes up 1 or 2 is 0.45, and the pr
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Question 1033911: A game of chance involves rolling an unevenly balanced 4-sided die. The probability that a roll comes up 1 is 0.12, the probability that a roll comes up 1 or 2 is 0.45, and the probability that a roll comes up 2 or 3 is 0.47 . If you win the amount that appears on the die, what is your expected winnings? (Note that the die has 4 sides.)
in dollars Answer by robertb(5830) (Show Source):
You can put this solution on YOUR website! It is given that p(1) = 0.12. Since p(1 or 2) = 0.45, then by mutual exclusivity, p(2) = 0.33. Since p(2 or 3) = 0.47, then again by mutual exclusivity p(3) = 0.14. This gives p(4) = 1 - 0.12 - 0.33 - 0.14 = 0.41.
==> Your expected winning is .
Therefore your expected winning is $2.84.
