Question

You and a friend are playing a game of chance. Every time you roll a 1 or 2 you are successful, and your friend will pay you $1. Every time you roll (using a fair die) a 3, 4, 5 or 6, you must pay your friend $2. If 71% of your rolls are successful and 29% of your rolls are unsuccessful, how much money do you expect to have earned/owe by the end of the game?
You owe 13 cents
You have won $1.21
You owe $1.21
You have won 13 cents

Answer 1

At the end of the game you owned 13 cents if 71% of your rolls are successful and 29% of your rolls are unsuccessful option first is correct.

What is probability?

It is defined as the ratio of the number of favourable outcomes to the total number of outcomes, in other words, the probability is the number that shows the happening of the event.

We have:

Every time you roll a 1 or 2 you are successful, and your friend will pay you $1. Every time you roll a 3, 4, 5 or 6, you must pay your friend $2.

71% of your rolls are successful:

= 1×0.71

= $0.71 (won)

29% of your rolls are unsuccessful

= 2×2.9

= $0.58 (lose)

The amount owned = 0.71 - 0.58 = $0.13 = 13 cents

Thus, at the end of the game you owned 13 cents if 71% of your rolls are successful and 29% of your rolls are unsuccessful option first is correct.

Learn more about the probability here:

brainly.com/question/11234923

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