In an attempt to raise money, an elementary school PTA created a dice game as part of
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Question:
In an attempt to raise money, an elementary school PTA created a dice game as part of an annual fundraising event. The player will roll a fair die. If they roll a one, they will win $15, and if they roll a two, they will win $5. The PTA will charge $5 to play the game. (8 pts)
a) Create a valid probability table for the amount the PTA will earn for any one game. Be sure that you are making this table from the viewpoint of the earnings of the PTA and not the player.
b) What is the expected value for the PTA of any one game played? Show your work.
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