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Find the following list of data calculate a demean be the maid in and see the mouth or mothers of the numbers from

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Find the following list of data calculate a demean be the maid in and see the mouth-example-1
User Chris Dennett
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1 Answer

10 votes
10 votes

Given:

A fair die is rolled.

It pays off $10 for 6, $7 for a 5, $4 for a 4 and no payoff otherwise.

To find:

The expected winning for this game.

Solution:

If a die is rolled then the possible outcomes are 1, 2, 3, 4, 5, 6.

The probability of getting a 6 is:


P(6)=(1)/(6)

The probability of getting a 5 is:


P(5)=(1)/(6)

The probability of getting a 4 is:


P(4)=(1)/(6)

The probability of getting other numbers (1,2,3) is:


P(\text{Otherwise})=(3)/(6)


P(\text{Otherwise})=(1)/(2)

Now, find the sum of product of payoff and their corresponding probabilities to find the expected winning for this game.


E(x)=10* P(6)+7* P(5)+4* P(4)+0* P(\text{Otherwise})


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


E(x)=(10)/(6)+(7)/(6)+(4)/(6)+0

On further simplification, we get


E(x)=(10+7+4)/(6)


E(x)=(21)/(6)


E(x)=3.5

Hence, the expected winnings for this game are $3.50.

User Oraekia
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