Question

A certain game consists of rolling a single fair die and pays off as follows: $10 for a 6, $7 for a 5, $4 for a 4, and no payoff otherwise,

Find the expected winnings for this game.
The expected winnings for this game are
(Round to the nearest hundredth.)
1
m
21
m
se
?
Enter your answer in the answer box.

Answer 1

$3.50

Explanation:

Given:

$10 for a 6, $7 for a 5, $4 for a 4, and no payoff otherwise

P(6) = 1/6 ; p(5) = 1/6 ; p(4) = 1/6 ; p(1,2or3) = 3/6 = 1/2

P(x) ____ 1/6 _____ 1/6 _____1/6 _____1/2

x______ 10 _______ 7 _____ 4 _______ 0

Expectwd value ; E(x)

Σx*p(x) = (1/6 * 10) + (1/6 * 7) + (1/6 * 4) + (1/2 * 0)

E(x) = 3.50