Get Instant Homework Help

Stuck on a question? Our AI-powered assistant is here to help!

Download myStudyMate App

Tag: expected value

Ask Question
Filtered by tag: expected value View All Questions

Michael is playing a game of chance in which he rolls a number cube. This game is this: Michael rolls the number cube once. He wins S1 if a 1 is rolled, S2 if a 2 is rolled, and S3 if a 3 is rolled. He loses $2.50 if a 4, 5, or 6 is rolled. (a) Find the expected value of playing the game. (b) What can Michael expect in the long run, after playing the game many times?

probability expected value games of chance mathematics
Asked 2 months ago