SOLUTION: If a gambler rolls two dice and gets a sum of four, he wins $10; and if he gets a sum of three, he wins $25. The cost to play the game is $5. What is the expectation of this game?
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-> SOLUTION: If a gambler rolls two dice and gets a sum of four, he wins $10; and if he gets a sum of three, he wins $25. The cost to play the game is $5. What is the expectation of this game?
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Question 612126: If a gambler rolls two dice and gets a sum of four, he wins $10; and if he gets a sum of three, he wins $25. The cost to play the game is $5. What is the expectation of this game? Answer by stanbon(75887) (Show Source):
You can put this solution on YOUR website! If a gambler rolls two dice and gets a sum of four, he wins $10; and if he gets a sum of three, he wins $25. The cost to play the game is $5. What is the expectation of this game?
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Random value numbers: 5......20.....-5
Probabilities.......: 3/36...2/36...31/36
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E(x) = [3*5 + 2*20 - 31*5]/36 = -100/36 = -$2.78
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Cheers,
Stan H.
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