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!
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!