Kayla M.

asked • 04/26/20

Expected Value Probability Question

Consider a game in which a participant pays $2 to roll a die. The participant receives $3 if they roll a 1 (i.e. they go up by a $1) and they receive $4 if they roll a 6 (i.e. they go up by $2). If they roll any other number they lose their $2 (i.e. they lost $2).  


What is the average expected monetary value of a single roll?

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