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In a dice game if you roll a 2, 4, or 6 you get the value of the die. If you roll as 1, 3, or 5 you lose $5. What is the expected value of the game?

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User Madbird
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2 Answers

23 votes
23 votes

Final answer:

The expected value of the game is -$1/6, which means that, on average, you would expect to lose $1/6 per game.

Step-by-step explanation:

To find the expected value of the game, we need to calculate the probability and value of each outcome and then sum them up.

There are three possible outcomes when rolling a dice: 2, 4, or 6 with a value equal to the die; and 1, 3, or 5 with a value of -$5.

The probabilities of rolling each number are 1/6, and the values for each outcome are 2, 4, 6, -5, -5, -5. We multiply each value by its respective probability and sum them up to get the expected value: (1/6 * 2) + (1/6 * 4) + (1/6 * 6) + (1/6 * -5) + (1/6 * -5) + (1/6 * -5) = 1/3 - 5/6 = -1/6.

The expected value of the game is -$1/6, which means that, on average, you would expect to lose $1/6 per game.

User Ethanpil
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3.3k points
10 votes
10 votes

Answer: -$0.5

Step-by-step explanation:

event Probability

+ $2 1/6

+ $4 1/6

+ $6 1/6

- $5 3/6

E(X) = (2*1/6)+(4*1/6)+(6*1/6)+(-5*3/6) = -$0.5

User Miloserdow
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3.1k points