Answer: E , You will lose 5.6 cents
Step-by-step explanation:
Because with two dice, there are 36 possible outcomes, 21 are 7 or less, 14 are 8 through 11, and 1 is twelve.
Also when you have a total of 8,9,10 or 11, you gain $1 deducing the $1 you bet. The same with when you have 12 you gain $5.
Average $ to gain when total is 8,9,10 or 11 = P(8,9,10,11)
P(8,9,10,11) = ($2-$1)(14/36) = $14/36 gain
P(12) = ($6-$1)(1/36) = $5/36 gain
P(7 or less) = (0-$1)(21/36) = -$21/36 loss
P(loss or gain)= P(8,9,10,11) + P(12) + P(7 or less)
P(loss or gain) = $( 14/36 + 5/36 - 21/36) = -$2/36
P(loss or gain) = -$0.056 = -5.6 cents loss
Therefore, For every $1 bet you will lose 5.6 cents.
