Question

A certain game consists of rolling a single fair die and pays off as follows: $7 for a 6, $2 for a 5, $1 for a 4, and no payoff otherwise.

Answer 1

E Winning) = $ 1.667

Explanation:

E(winnings) = (7 x (
`(1)/(6)`)) + (2 x (
`(1)/(6)` + (1 x (
`(1)/(6)`))

=
`(7)/(6)` +
`(2)/(6)` +
`(1)/(6)`

=
`(10)/(6)`

=
`(5)/(3)`

= $ 1.667