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Math Help - Please help to solve this probability question

  1. #1
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    Please help to solve this probability question

    Hi, I am new to this forum and would like to ask for your help on the below question:

    Fred and Jose are experimenting with a new game. The probability Fred wins a round of this game is 1/3 and for Jose the probability to wins a round is 2/3. They decide that to make the game fair, Fred scores 3 pts when he wins a round, and Jose scores 2 pts when wins a round.

    B) How many pts per round can each player expect to win? That is, what is the expected value for each player??

    I would like to thank all and especially the admins of this forum because it is so helpful for my confusing math solving ability.
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    is up to his old tricks again! Jhevon's Avatar
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    Quote Originally Posted by mathconfuser View Post
    Hi, I am new to this forum and would like to ask for your help on the below question:

    Fred and Jose are experimenting with a new game. The probability Fred wins a round of this game is 1/3 and for Jose the probability to wins a round is 2/3. They decide that to make the game fair, Fred scores 3 pts when he wins a round, and Jose scores 2 pts when wins a round.

    B) How many pts per round can each player expect to win? That is, what is the expected value for each player??

    I would like to thank all and especially the admins of this forum because it is so helpful for my confusing math solving ability.
    i believe the expected value is just the sum off all outcomes for each player, multiplied by the payoff of those outcomes.

    i assume a player is not penalized for losing. so if a player loses, he simply gets zero points.

    expected value for Fred:

    E(F) = (Probabilty of win)(payoff for winning) + (Probability of losing)(payoff for losing)
    .......= (1/3)(3) + (2/3)(0)
    .......= 1

    so Fred can expect to gain 1 point per round.



    expected value for Jose:

    E(J) = (Probabilty of win)(payoff for winning) + (Probability of losing)(payoff for losing)
    .......= (2/3)(2) + (1/3)(0)
    .......= 4/3

    so Jose can expect to gain 4/3 points per round.


    Disclaimer: I am not good with probability, I haven't done it in ages, so you should wait until someone verifies this if you can
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