A game is played using one die. If the die is rolled and shows 1, the player wins $50. If the die shows any number other than 1
, the player wins nothing. Complete parts (a) through (b) below. a. If there is a charge of $10 to play the game, what is the game's expected value?
As rolling a one on a fair die has a probability of 1/6, on average it is likely that a one will be rolled around once every six rolls, therefore the game’s expected value is 0 because in six rolls one roll will yield 50 and the other five rolls -10 each granting a net total of 0.
