A game that costs $1 per play involves rolling a single fair die and pays off as follows: $3 for a 6, $2 for a five, $1 for a 4 and no payoff otherwise. What is the expected value of this game?

Answer Options:

$-0.50

$0

$0.17

0.50

Thanks!

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- April 25th 2011, 04:26 PMrero23Expected Value
A game that costs $1 per play involves rolling a single fair die and pays off as follows: $3 for a 6, $2 for a five, $1 for a 4 and no payoff otherwise. What is the expected value of this game?

Answer Options:

$-0.50

$0

$0.17

0.50

Thanks! - April 25th 2011, 04:51 PMmr fantastic