Question

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?

Answer 1

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.