A simple die bet
You roll a fair die: you win $10 if it shows a 6, and lose $1 otherwise. What is your expected profit per roll (in dollars)? Give a decimal to four places.
Show hints (2)+
- Weight each payoff by its probability.
- $\tfrac16(10)+\tfrac56(-1)$.
Answer
Reveal answer →Final answer
0.8333 (± 0.001)
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Asked at: Akuna Capital, Flow Traders