1) What is the expected value of the following gamble? You are to roll a pair of dice. If the dice come up on a natural, 7, or 11, you win 10 dollars. If the dice come up snake-eyes, 2 or box cars, 12, you lose 20 dollars. Otherwise the bet is off.

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- Sep 24th 2012, 06:08 PMallstar2Expected Value of a gamble?
1) What is the expected value of the following gamble? You are to roll a pair of dice. If the dice come up on a natural, 7, or 11, you win 10 dollars. If the dice come up snake-eyes, 2 or box cars, 12, you lose 20 dollars. Otherwise the bet is off.

- Sep 24th 2012, 07:11 PMTheEmptySetRe: Expected Value of a gamble?