Question
In the carnival game Under-or-Over-Seven, a pair of fair diceis rolled once, and the resulting sum determines whether the player wins or loses his or
In the carnival game Under-or-Over-Seven, a pair of fair diceis rolled once, and the resulting sum determines whether the player wins or loses his or her bet. For example, the player can bet $1 that the sum will be under 7that is, 2, 3, 4, 5, or 6. For this bet, the player wins $1 if the result is under 7 and loses $1 if the outcome equals or is greater than 7.
What is the expected value of the player's earning?
Following die-sum frequency table (taken from slides) might help you to calculate the probabilities relevant to the expected value.
Die Sum. /Frequecy
2 1
3 2
4 3
5 4
6 5
7 6
8 5
9 4
10 3
11 2
12 1
Sum 36
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