SOLUTION: YOu play a game in which two dice are rooled. If a sum of 7 appears, you win $10. otherwise you lose $2.00. If you intend to lay the game for a long time should you expect to make

Algebra ->  Probability-and-statistics -> SOLUTION: YOu play a game in which two dice are rooled. If a sum of 7 appears, you win $10. otherwise you lose $2.00. If you intend to lay the game for a long time should you expect to make      Log On


   

Question 655687: YOu play a game in which two dice are rooled. If a sum of 7 appears, you win $10. otherwise you lose $2.00. If you intend to lay the game for a long time should you expect to make money, lose money or come out even
Answer by stanbon(75887) About Me  (Show Source):
You can put this solution on YOUR website!
You play a game in which two dice are rolled. If a sum of 7 appears, you win $10. otherwise you lose $2.00. If you intend to play the game for a long time should you expect to make money, lose money or come out even.
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Random number values: 10:::: -2
Probabilities:::::::: 1/6::: 5/6
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Expected Value: (1/6)10 + (5/6)(-2) = (10-10)/6 = 0
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Ans: Come out even
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Cheers,
Stan H.
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