Suppose someone gives you 9 to 2 odds that you cannot roll two
even numbers with the roll of two fair dice. This means you win $9
if you succeed and you lose $2 if you fail. What is the expected
value of this game to you? Should you expect to win or lose the
expected value in the first game? What can you expect if you play
100 times? Explain.
What is the expected value of this game to you?
Should you expect to win (or lose) an amount equal to the
expected value in the first game?
Yes, you can expect to win (or lose) the expected value
in the first game.
No, the outcome of one game cannot be predicted.
What can you expect if you play 100 times?
Averaged over 100 games, you should expect
to win lose