Suppose someone gives you 5 to 1 odds that you cannot roll two even numbers with the roll of two fair dice. This means you win $5 if you succeed and you lose $1 if you fail. What is the expected value of this game to you? Should you expect to win or lose the expected value in the first game? What can you expect if you play 100 times? Explain.

Question

Mathematics

Clarence Cook

7 July, 14:28

Suppose someone gives you 5 to 1 odds that you cannot roll two even numbers with the roll of two fair dice. This means you win $5 if you succeed and you lose $1 if you fail. What is the expected value of this game to you? Should you expect to win or lose the expected value in the first game? What can you expect if you play 100 times? Explain.

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Answers (1)

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Jennifer Noble · Answer 1

The expected value of this game to me is 5 odd x $5 = $25.

There is 1/2 chances of winning and losing.

The expectations after playing 100 times is 100x5 oddx$5=$2500

Step-by-step explanation:

Odd is the probability or likelihood of an event occurring.