A First Course in Probability (10th Edition)
A First Course in Probability (10th Edition)
10th Edition
ISBN: 9780134753119
Author: Sheldon Ross
Publisher: PEARSON
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Rolling two fair dice

At the Spring Bazaar Charity Fundraiser, you play a game in which you roll two dice. (All proceeds go to the charity.) The game costs $1 to play. If you roll a sum of 2, you win $4. If you roll a sum greater than 2 and at most 4, you win $1. If you roll a sum of 11, you win $0.50. If you roll a sum of 12, you must donate an additional $1 to the charity. If you roll any other sum, the game is over.
Complete the table to find the expected value of this game from the point of view of the Spring Bazaar Fundraising committee. Round all dollar values to two decimal places.

Event Value Probability Value x Probability
sum of 2 $   $
2<sum< 4 $   $
  $   $
  $   $
  $   $

Expected Value = $ ____________ per play

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