Please help due tomorrow, multiple choice
1 answer:
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Answer:
The expected value is $0.035
Step-by-step explanation:
expected of outcome for each dice = 1,
each dice has 6 sides ⇒ total number of possible outcome per dice = 6
seven of a kind = $5,000, six of a kind = $500, five of a kind = $50
Probability = (expected outcome ÷ total number of possible outcome) ^ number of dice
Pr =
seven of a kind ⇒ all 7 dice have the same number
Pr (seven of a kind) = = 0.00000357
six of a kind ⇒ all 6 dice have the same number
Pr (six of a kind) = = 0.0000214
five of a kind ⇒ all 5 dice have the same number
Pr (five of a kind) = = 0.000129
EV = ∑P() *
EV = 5,000 * 0.00000357 + 500 * 0.0000214 + 50 * 0.000129
EV = 0.01785 + 0.0107 + 0.00645
EV = $0.035
The chances of winning is less than 1%. This is a very bad risk to take, do not let the carnival operators siphon the money in your wallet