New game You pay $10 and roll a die. If you get a 6, you win $50. If not, you get to roll again. If you get a 6 this time, you get your $10 back.
a) Create a probability model for this game.
b) Find the expected value and standard deviation of your prospective winnings.
c) You play this game five times. Find the expected value and standard deviation of your average winnings.
d) 100 people play this game. What’s the probability the person running the game makes a profit?
Already registered? Login
Not Account? Sign up
Enter your email address to reset your password
Back to Login? Click here