Question

In a gambling game, you roll 2 die and if you toss 2 sixes, you win $100, otherwise you lose $5.

Answer 1

Answer:

a. $\frac{1}{36}$ chance you win.

b. The expected value of the game is -$2.08.

Step-by-step explanation:

A probability is the number of desired outcomes divided by the number of total outcomes.

You roll 2 die and if you toss 2 sixes

For each roll, 6 possible values, 1 of which is 6. So the probability of rolling two sixes is:

$p = (\frac{1}{6})^2 = \frac{1}{36}$

a. What is the chance you win?

$\frac{1}{36}$ chance you win.

b. What is the expected value of the game?

1/36 probability of winning 100.

35/36 probability of losing 5. So

$E = \frac{1}{36}*100 - \frac{35}{36}*5 = \frac{100 - 175}{36} = -\frac{75}{36} = -2.08$

The expected value of the game is -$2.08.