You roll a 6 sided fair dice as part of a game. If you roll a 5 you win the game

Question

You roll a 6 sided fair dice as part of a game. If you roll a 5 you win the game. This is a binomial distribution. Your friend will pay you $4 if you win the game and $1 if you lose the game. What are your expected winnings (or losings) and what is the variance of your expected winning? You roll a 6 sided fair dice as part of a game. If you roll a 5 you win the game. This is a binomial distribution. Your friend will pay you $4 if you win the game and $1 if you lose the game. What are your expected winnings (or losings) and what is the variance of your expected winning?

Explanation / Answer

expected winnings = (1/6)*4-(5/6)*1 = -1/6 = -$0.667

Variance = 16*(1/6)- (5/6)- (-1/6)^2 = 1.8056

Related Questions

Navigate

• Browse (All)
• Browse Y
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.