Posted by **Tara** on Wednesday, January 5, 2011 at 5:43pm.

Consider a simple game in which you will roll a six-sided die and receive $3.00 if you roll a 6. If it costs you $0.90 for each roll, what is the expected value?

- math -
**Marth**, Wednesday, January 5, 2011 at 6:10pm
You gain $3 if you get a 6, and always pay $0.90.

E[X] = (1/6)*3 - $0.90

- math -
**Reiny**, Wednesday, January 5, 2011 at 6:13pm
prob of rolling a 6 = 5/36

( ways to get a 6 : [5,1 ; 4,2 ; 3,3 ; 2,4 ; 1,5 ] )

expected value = $3.00(5/36) = .41666 or 42 cents

Would you pay 90 cents for a game that has an expected value of 42 cents?

## Answer this Question

## Related Questions

- Math Problem - You are playing a die game. If you roll 1, then the house pays ...
- statistics - Playing game of chance and pay 300 by rolling a fair die one time ...
- Accel Math - In a dice game if you roll a 2, 4, or 6 you get the value of the ...
- statistics - your teacher has invented a fair dice game to play. your teacher ...
- math - In a dice game if you roll a 2, 4, or 6 you get the value of the die. If ...
- math - If a standard six-sided die is rolled twice, what is the probability that...
- probability - We have two fair three-sided dice, indexed by i=1,2. Each die has ...
- maths-probability - You get to throw a die. If you roll a 3, you win $6. If you ...
- Maths probability - You get to throw a die. If you roll a 3, you win $6. If you ...
- math! - Suppose that to land on Free Parking in the game of Monopoly, you will ...