Question

Ray and Jon play a game of chance with two dice. If the sum of thedice is seven, Ray pays Jon $15. But if the sum is anything else,Jon pays Ray $10. What is the expected value of the game for Jon?Answer:-5.83

Answer 1

Given:

Two dice are rolled. n(S)=36

Let A be an event of getting a sum of 7.

`A=\mleft\lbrace(1,6\mright),(2,5),(3,4),(4,3),(5,2),(6,1)\}`
`n(A)=6`
`P(A)=(n(A))/(n(S))`
`P(A)=(6)/(36)`
`P(A)=0.1667`
`\text{The expected value of the game for Jon =}(6)/(36)*10`
`\text{The expected value of the game for Jon = \$}1.667`