74. A friend devises a game that is played by rolling a single six-sided die once. If you roll a 6, he pays you $3; if you roll a 5, he pays you nothing; if you roll a number less than 5, you pay him $1. Compute the expected value for this game. Should you play this game

Question

contestada

Respuesta :

Adetunmbiadekunle Adetunmbiadekunle · Answer 1 · 2020-12-15T16:15:42+01:00

Answer:

The expected value is -$0.17

Since it gives a negative expected value, the game is not favorable and should not be played

Step-by-step explanation:

Here, we want to calculate the expected game value and decide if the game is worth playing

Probability of rolling a six is 1/6

Probability of rolling a 5 is 1/6

Probability of rolling a number less than 5 is 4/6 = 2/3

So the only way to win is rolling a six

The expected value is thus;

1/6(3) - 0(1/6) - 2/3(1)

= 1/2 - 2/3

= -$0.17

Since the game gives a negative expected value, it is not favorable and should not be played

lhmarianateixeira lhmarianateixeira · Answer 2 · 2022-02-18T12:31:59+01:00

In this exercise we want to use probability to calculate the value we will have in total after the event occurs, like this:

The value is -$0.17, with thw negative value, the game should not be played.

Let's organize the information given in the statement, in this way, we will have to:

With this combination of values, we find that the probability will be calculated as:

[tex]1/6(3) - 0(1/6) - 2/3(1)= 1/2 - 2/3\\= -$0.17[/tex]

See more about probability at brainly.com/question/795909