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Math Help - Expected Value

  1. #1
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    Expected 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!
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  2. #2
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    Quote Originally Posted by rero23 View Post
    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!
    What have you tried? Where are you stuck?
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