dysonjedwards517 dysonjedwards517

18-05-2023
Mathematics

Answered

The world famous gambler from Philadelphia, Señor Rick, proposes the following game of chance. You roll a fair die. If you roll a 1, then Señor Rick pays you $55. If you roll a 2, Señor Rick pays you $10. If you roll a 3, you win nothing. If you roll a 4 or a 5, you must pay Señor Rick $35, and if you roll a 6, you must pay Señor Rick $25. What is the expected value for this game if you pay $1 to play?

Answer :

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