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You are playing a game where you are rolling a fair 6-sided number cube. It costs $1.00 for every roll. If you roll an even number, you win $2.00. If you roll an odd number, you win win nothing. Which of the following is the expected value of this game?

 

Expected value=$ -0.50

Expected value=$0.50

Expected value=$1.00

Expected value=$-1.00

 

Another q&a

 

When rolling two 6-sided number cubes, what are the chances the sum of the roll will be 7?

 

1/9

1/36

1/6

1/12

 Apr 11, 2016

Best Answer 

 #1
avatar+2498 
+2

2.

1+6=7  

2+5=7

3+4=7

------------------------------

4+3=7

5+2=7

6+1=7

 

there  is 36 posibilities:

\(\frac6{36}=\frac16\)

 

Answer: (C)

 Apr 11, 2016
 #1
avatar+2498 
+2
Best Answer

2.

1+6=7  

2+5=7

3+4=7

------------------------------

4+3=7

5+2=7

6+1=7

 

there  is 36 posibilities:

\(\frac6{36}=\frac16\)

 

Answer: (C)

Solveit Apr 11, 2016
 #2
avatar+2498 
0

i think:

\(1, 2,3,4,5,6\)

 there is 3 even numbers out of 6 so the probability to win is 1/2

 

if you won you recieve 2-1=1$

if you will loose you recieve -1$

 

0.5*1-0.5*1= 0 $

Solveit  Apr 11, 2016
 #3
avatar+128707 
+5

Expected Value  =

 

(Payoff) * ( probability of winning)  -   (Cost to play)* (probabilty of losing)  =

 

($2)( 1/2)   -  ($1)(1/2)  =

 

(1/2)  $(2 - 1)  =  $0.50

 

 

 

cool cool cool

 Apr 11, 2016
 #4
avatar+2498 
0

But CPhill if we will play the game by your answer it is mean that we will get to the profit

let s say that i woned the first one and loosed the second one ,When i won i will get 1$ and when i loosed i will get -1$

1$-1$=0

Solveit  Apr 12, 2016
 #5
avatar
0

Yes, the Payoff in CPill's answer should be $1 not $2.

2$ for the win - $1 the cost of playing.

 Apr 12, 2016

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