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Janelle is playing craps and places a $ 5 bet on the number 8 with a probability of winning at 5 /36 . However, the
Janelle is playing craps and places a $ 5 bet on the number 8 with a probability of winning at 5 /36 . However, the probability of losing is 1 6 and happens if a 7 is rolled. Any other number rolled means Janelle doesn't win or lose and the game continues. If an 8 is rolled, Janelle will win $ 6 (and keep the initial bet) but if a 7 is rolled, Janelle loses all $ 5 . What is the expected value for Janelle on a roll in this game of craps
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