posted by Ryan
A game is played using one dice. If the dice is rolled and shows 1, the player wins $1; if it shows 2, the player wins $2; if it shows a 3, the player wins $3. If the die shows 4,5,or 6 the player wins nothing.
a.) If there is a charge of $1.25 to play the game, what is the game's expected "gain or loss" for a player?
b.) Suppose a player decided to play this game 100 times, how much would the player expect to gain or lose?
mean win = (1+2+3+0+0+0) = 6/6 = $1
so lose .25 per toss
so lose $25 for 100 games