Craps: In the game of craps, a pair of dice are rolled, and people bet on the outcome. For example, you can bet $1 that the sum of the dice will be 2 (also 1 called "Snake Eyes"). The probability that you win is and if you win, your profit is $30. If you lose, you lose $1. 36' Part: 0/2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is dollars. X S

MATLAB: An Introduction with Applications
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Author:Amos Gilat
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Craps: In the game of craps, a pair of dice are rolled, and people bet on the outcome. For example, you can bet $1 that the sum of the dice will be 2 (also
1
called "Snake Eyes"). The probability that you win is and if you win, your profit is $30. If you lose, you lose $1.
36
Part: 0 / 2
Part 1 of 2
(a) What is the expected value of your profit? Round the answer to two decimal places.
The expected value of profit is
dollars.
Transcribed Image Text:Craps: In the game of craps, a pair of dice are rolled, and people bet on the outcome. For example, you can bet $1 that the sum of the dice will be 2 (also 1 called "Snake Eyes"). The probability that you win is and if you win, your profit is $30. If you lose, you lose $1. 36 Part: 0 / 2 Part 1 of 2 (a) What is the expected value of your profit? Round the answer to two decimal places. The expected value of profit is dollars.
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