SOLUTION: A game consists of rolling a pair of dice. If the sum is either 6,7 or 8 you win $5.00 otherwise you win $1.00.
Find the expected value for this game. Show your calculations in d
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-> SOLUTION: A game consists of rolling a pair of dice. If the sum is either 6,7 or 8 you win $5.00 otherwise you win $1.00.
Find the expected value for this game. Show your calculations in d
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Question 574452: A game consists of rolling a pair of dice. If the sum is either 6,7 or 8 you win $5.00 otherwise you win $1.00.
Find the expected value for this game. Show your calculations in detail. Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! A game consists of rolling a pair of dice. If the sum is either 6,7 or 8 you win $5.00 otherwise you win $1.00.
Find the expected value for this game. Show your calculations in detail.
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P(6 or 7 or 8) = (5+6+5)/36 = 16/36 = 4/9
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P(other) = 5/9
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E(x) = (4/9)5 + (5/9)1 = 25/9 = $2.78
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Cheers,
Stan H.
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