Homework SourseA game involving a pair of dice pays you 4 with probability
A game involving a pair of dice pays you $4 with probability 16/36, costs you $2 with probability 14/36, and costs you $6 with probability 6/36. 14.
What is your expected net result, in dollars, per play?
| A game involving a pair of dice pays you $4 with probability 16/36, costs you $2 with probability 14/36, and costs you $6 with probability 6/36. 14. | What is your expected net result, in dollars, per play? |
Solution
Consider:
Thus,
E(x) = Sum(xP(x)) = 0 [ANSWER]
| x | P(x) | x P(x) |
| 4 | 0.444444 | 1.777778 |
| -2 | 0.388889 | -0.77778 |
| -6 | 0.166667 | -1 |
