Question: A friend devises a game that is played by rolling a single six-sided die once. If you roll a 6, he pays you $3; if

 A friend devises a game that is played by rolling a

single six-sided die once. If you roll a 6, he pays you

A friend devises a game that is played by rolling a single six-sided die once. If you roll a 6, he pays you $3; if you roll a 5, he pays you nothing; if you roll a number less than 5, you pay him $1. Compute the expected value for this game from your perspective. (Note: Include a dollar sign in your answer and round to the nearest penny. If your answer is negative, put the negative sign first, like -$3.50.)

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!