Question 586452
Three unbiased 6 sided dice would be rolled at the same time. Each die had a W stamped on 3 sides and 3 sides that were plain. It would cost $1.00 to play and a player would receive $0.50 for each W they get.
A. What is the sample space for possible outcomes?
www ; wwb ; wbw ; bww ; bbw ;bwb ; wbb ; bbb
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B. What is the expected value (how much would you expect to win or lose on average?
Random number of "w's": 0 ,1 , 2 , 3
Corresponding probabilities: 1/8  ; 3/8 ;3/8 ; 1/8
Random gain to the player: 
-100 for 0 w's) ; -50 for 1 w; 0 for 2 w's ; 50 for 3 w's 
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E(x) = (1/8)(-100) + (3/8)*-50 + (3/8)*0 : (1/8)*50
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= -100/8 - 150/8 + 0 + 50/8
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= -200/8
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= -25 cents
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Cheers,
Stan H.
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