Question

Ray and Jon play a game of chance with two dice. If the sum of thedice is seven, Ray pays Jon $15. But if the sum is anything else,Jon pays Ray $10. What is the expected value of the game for Jon?Answer:-5.83

Answer 1

Given:

Two dice are rolled. n(S)=36

Let A be an event of getting a sum of 7.

$A=\mleft\lbrace(1,6\mright),(2,5),(3,4),(4,3),(5,2),(6,1)\}$$n(A)=6$$P(A)=\frac{n(A)}{n(S)}$$P(A)=\frac{6}{36}$$P(A)=0.1667$$\text{The expected value of the game for Jon =}\frac{6}{36}\times10$$\text{The expected value of the game for Jon = \ }1.667$