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January 31, 2015

January 31, 2015

Posted by **Hannah** on Sunday, April 18, 2010 at 3:12pm.

- Math -
**Reiny**, Sunday, April 18, 2010 at 3:55pmSuppose you play the game 36 times. (all possible outcomes)

Your critical outcomes are

1,1 ---expected return = (1/36)(2) + 2 = 2.0555

2,2 ---expected ret;urn = (1/36)(2) + 4 = 4.0555

.

.

6,6 ---expected return = (1/36)(2) + 12 = 12.0555

the expected winnings are 2.0555+4.0555+6.0555+8.0555+10.0555+12.0555

= 42.3333

the other 30 outcomes would all result in a loss of 2

expected losses = (30/36)(2) = 1.6666666

The expected value of the game is $40.67 for 36 game.

So the expected value of one game is 40.67/36 or $1.13

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