Roll Value Probability Value * Probability
1 +1$ 1/6 1/6$
6 +2$ 1/6 2/6$
2-5 - 2$ 4/6 -8/6$
Expected Value -5/6$
Kayla M.
asked 04/26/20Consider 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 $2).
What is the average expected monetary value of a single roll?
Roll Value Probability Value * Probability
1 +1$ 1/6 1/6$
6 +2$ 1/6 2/6$
2-5 - 2$ 4/6 -8/6$
Expected Value -5/6$
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