Homework Help: Statistics

Posted by Robert on Tuesday, December 18, 2012 at 11:48pm.

The game of chuck-a-luck consists of rolling 3 dice. The player picks a number, 1, 2, 3, 4, 5, or 6. Winning and losing depends on the number of times the number appears on the top of each die. If the number appears once then the winnings are equal to the bet. If the number appears twice the winnings are twice the bet. If the number appears 3 times the winnings are 5 times the bet. If the number doesn't appear then the bet is lost. A $5.00 bet is made on the number 3. what is the expected outcome of the bet?

0.840

1.354

0.354

-0.354

I was thinking D..

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