Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $12. If you roll a 4 or 5, you win $3. Otherwise, you pay $9.d. Based on the expected value, should you play this game?No, since the expected value is negative, you would be very likely to come home with less money if you played many games.No, this is a gambling game and it is always a bad idea to gamble.Yes, because you can win $12.00 which is greater than the $9.00 that you can lose.Yes, since the expected value is 0, you would be very likely to come very close to breaking even if you played many games, so you might as well have fun at no cost.Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games.

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Answered: Suppose that you are offered the…

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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Suppose that you are offered the following "deal." You roll a six sided die. If you roll a 6, you win $12. If you roll a 4 or 5, you win $3. Otherwise, you pay $9.

d. Based on the expected value, should you play this game?

No, since the expected value is negative, you would be very likely to come home with less money if you played many games.
No, this is a gambling game and it is always a bad idea to gamble.
Yes, because you can win $12.00 which is greater than the $9.00 that you can lose.
Yes, since the expected value is 0, you would be very likely to come very close to breaking even if you played many games, so you might as well have fun at no cost.
Yes, since the expected value is positive, you would be very likely to come home with more money if you played many games.

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