Question: 18. Expected Value in Casino Dice When you give a casino $5 for a bet on the pass line in a casino game of dice,

18. Expected Value in Casino Dice When you give a casino $5 for a bet on the “pass line” in a casino game of dice, there is a 251 495 probability that you will lose $5 and there is a 244 495 probability that you will make a net gain of $5. (If you win, the casino gives you $5 and you get to keep your $5 bet, so the net gain is $5.)

What is your expected value? In the long run, how much do you lose for each dollar bet?

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