SOLUTION: Find the expected value.
If a player rolls two dice and gets a sum of 11, he wins $ 20. if he gets a sum of 7 he wins $ 5. The cost to play the game is $ 3. Find the expectation
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-> SOLUTION: Find the expected value.
If a player rolls two dice and gets a sum of 11, he wins $ 20. if he gets a sum of 7 he wins $ 5. The cost to play the game is $ 3. Find the expectation
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Question 1176486: Find the expected value.
If a player rolls two dice and gets a sum of 11, he wins $ 20. if he gets a sum of 7 he wins $ 5. The cost to play the game is $ 3. Find the expectation of the game ?
I wrote out the sample space and built a table based on gain and solved for the mean, but did not find the correct answer. Answer by Boreal(15235) (Show Source):
You can put this solution on YOUR website! probability of a 7 is 1/6 and 1/6* $5=$0.83
probability of an 11 is 1/18 and that *$20=$1.11
The plus expectation is the sum or $1.94
The minus expectation is playing the game, or $3
the result is a negative -$1.06. I made it more complex than I needed to.
-
7---------1/6-----$5-----$0.83
11--------1/18----$20----$1.11
cost ------1-------$3
