How should I solve this probability problem.

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limengxi
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How should I solve this probability problem.

Postby limengxi » Wed Mar 09, 2011 8:13 am

At a social club function, a dice game is played where on a single roll of a six-sided die the following payouts are made:
$2 for an odd number, $3 for a 2, $6 for a 4 and $9 for a 6

a.what is the expected return for a single roll of the die?
b. if the club charges $5 for each roll, how much money would the club expect to make if 75 people played the game once each?


Thank uuuuuuuuuuuu for ur greeeeeeeeeeeeat help. :)

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maggiemagnet
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Re: How should I solve this probability problem.

Postby maggiemagnet » Wed Mar 09, 2011 2:35 pm

limengxi wrote:At a social club function, a dice game is played where on a single roll of a six-sided die the following payouts are made: $2 for an odd number, $3 for a 2, $6 for a 4 and $9 for a 6

What are all the possible outcomes? How many of these outcomes are odd numbers? So what is the probability of getting an odd number?

What are the probabilities for getting a 2, getting a 4, and getting a 6? So what are their probabilities?

limengxi wrote:a.what is the expected return for a single roll of the die?

Use the formula they gave you (the one with probabilities multiplied by values, and then the results added together, etc) to find the expected value.

limengxi wrote:b. if the club charges $5 for each roll, how much money would the club expect to make if 75 people played the game once each?

What are your thoughts on this? :thumb:


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