Question

You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!

          You decide to play a game where you roll 3 six-sided dice and follow these rules:

You get $5.00 for every 5 you roll.

You lose $2.00 for every other number you roll.

(For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2)

If you play this game once, what is the expected value of your winnings (or losings)?

Hint: Use the binomial distribution for the probabilities!

You decide to play a game where you roll 3 six-sided dice and follow these rules:

You get 5.00 for every 5 you roll.

You lose2.00 for every other number you roll.

(For example, if you roll 1, 5, then 2, you would lose 2 for rolling the 1, get5.00 for rolling the 5, and lose 2 for rolling the 2)

If you play this game once, what is the expected value of your winnings (or losings)?

Hint: Use the binomial distribution for the probabilities!

Added by Jacqueline H.

Elementary Statistics a Step by Step Approach

Allan G. Bluman 9th Edition

Instant Answer

Solved by Expert David Nguyen

04/12/2022

Step 1

Step 1: Calculate the probability of rolling a 5 on a single die, which is 1/6. Show more…

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You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!