I'm having trouble with this question, could someone please help? A person pays $2 to play...
I'm having trouble with this question, could someone please help?
A person pays $2 to play a game rolling a single dice. If 1 or 2 comes up, the player wins nothing. If 3, 4, 5, or 6 comes up, then the player wins the difference between $2 and the number rolled. Fill in the following table, and calculate the expected value of the game.
| X | 1 | 2 | 3 | 4 | 5 | 6 | Total |
| P(X) | |||||||
| $ win | |||||||
| P(X) x $ win |
Expected value = expected outcome less cost to play = ______
Thanks in advance :)
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I'm having trouble with this question, could someone please
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