A game is played using one die. If the die is rolled and shows 1 , the player wins $ 10. If the die shows any number other than 1 , the player wins nothing. a. If there is a charge of $ 2 to play the game, what is the game's expected value?

Question

Mathematics

Isabell Wong

14 February, 21:51

A game is played using one die. If the die is rolled and shows 1 , the player wins $ 10. If the die shows any number other than 1 , the player wins nothing. a. If there is a charge of $ 2 to play the game, what is the game's expected value?

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Kenneth Robertson · Answer 1

For each roll you start with paying 2 dollars and you only with 10 dollars one out of 6 rolls (on average).

So the cost for one play is 2 dollars and your win is 10/6.

Value is - 2+10/6=-1/3 dollars

So you lose 1/3 dollars on average with each game.