In a dice game, if you bet $4 you either lose your money or gain $8 (that is you keep your 4 dollars and get 8 more so an increase of $8.). You gain $8 if a 1 is rolled, and lose your bet otherwise. Assume the die is fair and each of the 6 outcomes is equally likely. If you were to play forever, what is the expected amount of winnings (if it is a loss then write as a negative number)? Round your answer to 2 decimal places.

In a dice game, if you bet $4 you either lose your money or gain $8 (that is you keep your 4 dollars and get 8 more so an increase of $8.). You gain $8 if a 1 is rolled, and lose your bet otherwise. Assume the die is fair and each of the 6 outcomes is equally likely. If you were to play forever, what is the expected amount of winnings (if it is a loss then write as a negative number)? Round your answer to 2 decimal places.

Holt Mcdougal Larson Pre-algebra: Student Edition 2012

1st Edition

ISBN:9780547587776

Author:HOLT MCDOUGAL

Publisher:HOLT MCDOUGAL

Chapter11: Data Analysis And Probability

Section11.8: Probabilities Of Disjoint And Overlapping Events

Problem 2C

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