Expected Value of aRandom Variable

Question

Consider a gambler who wins P50 if the sum of dots in a toss of a pair of fair coin is either 7 or 11, and loses P10,otherwise, find the expected gain?

my initial answer is 3.33 , I don;t know if it's correct

Answer 1

Janus,

this is an easy answer. You are right, congratulations.

For the record:

With the 2 dice you have a total of 36 possible outcomes, 8 of them will give you 7 or 11 : 3,4 ;4,3; 2,5 ;5,2 ; 1,6; 6,1; 5,6; 6,5

Expected value: (8/36)*50-(28/36)*10 = 10/3