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In a game of chance, two fair dice are thrown. If the sum of the two dice is seven, you get paid out $90. If the sum of two dice is a six or an eight, you must pay $90(No money is exchanged for all other sums). How much money would you expect to win or lose, on average, per game?

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Eduard22sly

You are expected to lose $ 10 on an average per game

How to determine the amount of money you would win

  • Total outcome = 36
  • Event of sum of 7 = 6
  • Amount per sum of 7 = $ 90
  • Amount won per game =?

Probability of sum of 7 = 6 / 36

Probability of sum of 7 = 1 / 6

Amount won per game = (1 / 6) × 90

Amount won per game = $ 15

How to determine the amount of money you would lose

  • Total outcome = 36
  • Event of sum of 6 = 5
  • Event of sum of 8 = 5
  • Event of sum of 6 or 8 = 5 + 5 = 10
  • Amount per sum 6 or 8 = $ 90
  • Amount lose per game =?

Probability of sum 6 or 8 = 10 / 36

Probability of sum 6 or 8 = 5 / 18

Amount lose per game = (5 / 18) × 90

Amount lose per game = $ 25

How to determine your expect earning on an avarge per game

  • Amount won per game = $ 15
  • Amount lose per game = $ 25
  • Expected earnings =?

Expected earnings = Amount won per game - Amount lose per game

Expected earnings = 15 - 25

Expected earnings = -$ 10

Thus, you are expected to lose $ 10 on an average per game

Learn more about probability:

https://brainly.com/question/17239706

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