Question 729296: Could really use some help on a problem, can someone assist?
You play a game where a single die is rolled. If you roll an odd number, you win the amount of dollars the die shows. If you roll an even number, you lose the number showing. Calculate the expected value of the game, and is it fair?
Found 2 solutions by lynnlo, ikleyn:
Answer by lynnlo(4176)   (Show Source):
Answer by ikleyn(53339)  (Show Source):
You can put this solution on YOUR website! .
You play a game where a single die is rolled. If you roll an odd number, you win the amount of dollars the die shows.
If you roll an even number, you lose the number showing. Calculate the expected value of the game, and is it fair?
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With the probability 1/6 you win 1 dollar, or 3 dollars, or 5 dollars.
With the probability 1/6 you lose 2 dollars, or 4 dollars or 5 dollars.
Therefore, the math expectation to win in this game for the player is
 =  = -3/6 = -1/2 of a dollar. ANSWER
The game is unfair.
Solved.
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