A fair die is rolled.If it comes up 1 or 2 you win $2.If it comes up 3,4,5,or 6 you lose $1.Find the expected winnings.
A) $0.00
B) $1.00
C) $0.50
D) $0.25

Name: A fair die is rolled.If it comes up 1 or 2 you win $2.If it comes up 3,4,5,or 6 you lose $1.Find the expected winnings. A) $0.00 B) $1.00 C) $0.50 D) $0.25
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Quizplus · Accepted Answer

The probability of rolling a 1 or 2 is 2/6, and the probability of rolling a 3, 4, 5, or 6 is 4/6. The expected winnings are (2/6)*$2 + (4/6)*(-$1) = $0.00.

A Fair Die Is Rolled