Question 172627
If the die is rolled and shows a 2, the player wins $8. 
If the die shows any number other than 2, the player wins nothing. 
If there is a charge of $1 to play the game, what is the game's expected value?
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Let the random variable be player gain:
Its values are:
8 with probability (1/6)
-1 with probability (5/6)
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Expected Value = (1/6)8 + (5/6)(-1) = (8/6) - (5/6) = $0.50 
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Cheers,
Stan H.