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Math Help - Help!

  1. #1
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    Help!

    You Pay $10 and roll a die. If you got a 6 then you win $50. If not then you get to roll again. If you get a 6 this time, you get your money back.

    a. Create a probabily model for this game.

    b. Find the expected value and the standard deviation of your prospective winnings.

    c. you play this game five times find the expected value and the starndard deviation of your average winnings.

    d. 100 people play this game whats the probability of the person running the game make the profit.
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  2. #2
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    Quote Originally Posted by andreia View Post
    You Pay $10 and roll a die. If you got a 6 then you win $50. If not then you get to roll again. If you get a 6 this time, you get your money back.

    a. Create a probabily model for this game.
    What is the probability of getting a 6 on the first roll?

    What is the probability of getting a 6 only on the second roll?

    Quote Originally Posted by andreia View Post
    b. Find the expected value and the standard deviation of your prospective winnings.
    What will you win if you get a 6 on the first roll? What is the probability of this happening? So what is the expected payout?

    What will you win if you get a 6 on the second roll? So what is the expected payout?

    What will you win if you don't get any 6's? What is the expected payout?
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