Question: QUESTION 6 Find the expected value usingthe given information below. (TYPE IN YOUR ANSWER!DO NOT USE ANY UNNECESSARY SPACES IN BETWEEN YOUR ANSWERS!ROUND TO THE

QUESTION 6

  1. Find the expected value usingthe given information below. (TYPE IN YOUR ANSWER!DO NOT USE ANY UNNECESSARY SPACES IN BETWEEN YOUR ANSWERS!ROUND TO THE HUNDREDTHS WHEN NECESSARY!)
  2. When you give a casino $5for a bet on the "pass line" in the game of craps, there is a 244/495 probability that you will win $5 and a 251/495 probability that you will lose $5. What is his expected value?NOTE:The correct ways to type in a dollar amount are for example-$50or$50.

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