Ask Question
4 March, 16:22

You throw 2 dice. the sum is 6 or more, you win $41. If not, you pay me $114. Fine the expected value of the proposition. Round your answer to two decimal places. Losses must be expressed as negative values.

+2
Answers (1)
  1. 4 March, 16:38
    0
    There are ...

    1 way to roll 2

    2 ways to roll 3

    3 ways to roll 4

    4 ways to roll 5

    hence 10 ways to lose $114 out of the 36 ways the dice can land. For each of the remaining 26 ways the dice can land, you win $41. The expected value of your winnings is

    (10/36) * (-114) + (26/36) * (41) = - 31.67 + 29.61 = - 2.06
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “You throw 2 dice. the sum is 6 or more, you win $41. If not, you pay me $114. Fine the expected value of the proposition. Round your answer ...” in 📗 SAT if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers