You are playing a game in which a single die is rolled. if you roll a 2 or a 5, you win $36, otherwise you lose $36. What is the expected value of this game?

Question

Mathematics

Kaylah Kelley

9 May, 01:34

You are playing a game in which a single die is rolled. if you roll a 2 or a 5, you win $36, otherwise you lose $36. What is the expected value of this game?

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Preston House · Answer 1

In rolling a single die, there are 6 possible outcomes. To win, there are two possible outcome making the probability equal to 2/6. Moreover to loss, there are 4 possible outcomes, making the probability equal to 4/6. Calculating the cost,

(2/6) ($36) - (4/6) ($36) = - 12

Thus, the expected value of the game is $-12.