SOLUTION: A certain game consists of rolling a single fair die and pays off as follows: $5 for a 6, $3 for a 5, $1 for a 4, and no payoff otherwise. Find the expected wi
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-> SOLUTION: A certain game consists of rolling a single fair die and pays off as follows: $5 for a 6, $3 for a 5, $1 for a 4, and no payoff otherwise. Find the expected wi
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Question 1164165: A certain game consists of rolling a single fair die and pays off as follows: $5 for a 6, $3 for a 5, $1 for a 4, and no payoff otherwise. Find the expected winnings for this game. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! probability for each of the numbers is 1/6
E(X)=SUM {x*(p(x)}
=5(1/6)+3(1/6)+1(1/6) units dollars
=$9/6 or $1.50
