Question 538365: Consider a game consisting of rolling a single fair die. If an even turns up on the roll, you receive you receive the same number of dollars. (For example, if you roll a 6, you get 6 dollars.) If an odd number turns up, you then pay the same number of dollars. (For example, if you roll a 5, you must pay 5 dollars.) What are the expected net winnings of this game?
A. $0.25
B. $0.50
C. $0.75
D. $1.00
Answer by stanbon(75887)   (Show Source):
You can put this solution on YOUR website! Consider a game consisting of rolling a single fair die. If an even turns up on the roll, you receive you receive the same number of dollars. (For example, if you roll a 6, you get 6 dollars.) If an odd number turns up, you then pay the same number of dollars. (For example, if you roll a 5, you must pay 5 dollars.) What are the expected net winnings of this game?
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Expected = (1/6)[2+4+6-(1+3+5)] = (1/6)[3] = $0.50
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Cheers,
Stan H.
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A. $0.25
B. $0.50
C. $0.75
D. $1.00
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