Question

Roll a fair six-sided die. You win $7 if you roll a number greater than 3. You will lose $3 if you roll the 9) number 2. If you roll any other number, you will neither win nor lose anything. Find the expected value (winnings) of this probability experiment to the nearest cent.

Answer 1

So, the expected value (winnings) of this probability experiment is $3.

Explanation: