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You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!

You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!

Calculus For The Life Sciences
Calculus For The Life Sciences
2nd Edition
ISBN:9780321964038
Author:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Publisher:GREENWELL, Raymond N., RITCHEY, Nathan P., Lial, Margaret L.
Chapter12: Probability
Section12.CR: Chapter 12 Review
Problem 89CR
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You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!
Transcribed Image Text:You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!
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