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  3  (also called "Ace Deuce"). The probability that you win is  118 , and if you win, your profit is  $15 . If you lose, you lose  $1 . Part: 0 / 2 0 of 2 Parts Complete   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.

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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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 

3

 (also called "Ace Deuce"). The probability that you win is 

118

, and if you win, your profit is 

$15

. If you lose, you lose 

$1

.

Part: 0 / 2
0 of 2 Parts Complete
 
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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