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Math Help - Probability

  1. #1
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    Probability

    You roll a single die: If you roll a 4 someone gives you $1, if you roll any other number you must give them 25 cents. What is your expectation if you play this game-in other words, how much money on average can you expect to win or lose everytime you roll the die when playing this game.
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  2. #2
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    there is a 1/6 chance that you will win $1
    there is a 5/6 chance that you will lose .25

    you can expect to win (1/6)*1=.1666667
    you can expect to lose (5/6*.25)=.2083333

    .16667 - .20833 = -.04167

    you can expect to lose an average of a bit more than 4 cents per roll of the dice
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