Question
upstudy study bank question image url

A game is played using one die. If the die is rolled and shows 6 , the player wins \( \$ 35 \). If the die shows any number other than 6 , the player wins nothing. Complete parts (a) through (b) below. a. If there is a charge of \( \$ 7 \) to play the game, what is the game's expected value? \( \$ \square \) (Round to the nearest cent.)

Ask by Stanley Ramos. in the United States
Mar 20,2025

Upstudy AI Solution

Tutor-Verified Answer

Answer

The game's expected value is \(\$-1.17\).

Solution

Sign in to Unlock Answers for Free!

A Learning Platform Trusted by Millions of Real Students and Teachers.

star-icon Unlock

Answered by UpStudy AI and reviewed by a Professional Tutor

Mind Expander

To find the expected value of the game, we first need to calculate the probability of winning and losing. There is a 1 in 6 chance (or approximately 16.67%) of rolling a 6 and winning $35, and a 5 in 6 chance (or approximately 83.33%) of winning nothing. Let’s calculate the expected winnings: - Winning scenario: \( \frac{1}{6} \times 35 = 5.8333 \) - Losing scenario: \( \frac{5}{6} \times 0 = 0 \) Now, add these two together: \( 5.8333 + 0 = 5.8333 \) Now, we account for the $7 charge to play: Expected value = Expected winnings - Cost to play Therefore: Expected value = \( 5.8333 - 7 = -1.1667 \) Rounding to the nearest cent, the expected value is \( \$ -1.17 \). So, the answer is: \( \$ -1.17 \)

Latest Probability Questions

Try Premium now!
Try Premium and ask Thoth AI unlimited math questions now!
Maybe later Go Premium
Study can be a real struggle
Why not UpStudy it?
Select your plan below
Premium

You can enjoy

Start now
  • Step-by-step explanations
  • 24/7 expert live tutors
  • Unlimited number of questions
  • No interruptions
  • Full access to Answer and Solution
  • Full Access to PDF Chat, UpStudy Chat, Browsing Chat
Basic

Totally free but limited

  • Limited Solution
Welcome to UpStudy!
Please sign in to continue the Thoth AI Chat journey
Continue with Email
Or continue with
By clicking “Sign in”, you agree to our Terms of Use & Privacy Policy