SOLUTION: Suppose you roll a 6 sided die. If you roll a 1 you earn $2, if you roll a 4 you earn $4, any other number you pay $1. How much money should you expect to earn on average.
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-> SOLUTION: Suppose you roll a 6 sided die. If you roll a 1 you earn $2, if you roll a 4 you earn $4, any other number you pay $1. How much money should you expect to earn on average.
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Question 540490: Suppose you roll a 6 sided die. If you roll a 1 you earn $2, if you roll a 4 you earn $4, any other number you pay $1. How much money should you expect to earn on average.
I've worked this different ways and came up with these answers: .1666 and $2
Are either of these answers correct? I also got 0.749 and it was marked incorrect. Please help. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! Suppose you roll a 6 sided die. If you roll a 1 you earn $2, if you roll a 4 you earn $4, any other number you pay $1. How much money should you expect to earn on average.
I've worked this different ways and came up with these answers: .1666 and $2
Are either of these answers correct? I also got 0.749 and it was marked incorrect.
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E(x) = (1/6)*2 + (1/6)*4 + (4/6)*(-1) = (1/3) + (2/3) - (2/3) = $0.33
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Cheers,
Stan H.
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