A certain game consists of rolling a single Fair die. if a four or five comes up you win $6; otherwise, but you lose $3, find the expected winnings for this game. is this a fair game

Algebra and Trigonometry (MindTap Course List)
4th Edition
ISBN:9781305071742
Author:James Stewart, Lothar Redlin, Saleem Watson
Publisher:James Stewart, Lothar Redlin, Saleem Watson
Chapter14: Counting And Probability
Section14.CT: Chapter Test
Problem 15CT
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A certain game consists of rolling a single Fair die. if a four or five comes up you win $6; otherwise, but you lose $3, find the expected winnings for this game. is this a fair game
Expert Solution
Step 1

We make a table using the given information

Outcomes 1 2 3 4 5 6
Winnings(xi) -3 -3 -3 6 6 -3
Probability(pi) 16 16 16 16 16 16
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