Question

Suppose that rather than flipping a coin, one rolls a die. if the value is 1, 2, 3, or 4, the player wins $1. if it is 5 or 6, the player loses $1. calculate the expected return.

Answer 1

4/6 chance of winning $1 (can be simplified to 2/3 or 0.667) an 2/6 chance of losing $1( can be simplified to 1/3 or 0.333)