Reuben is playing a game of chance in which he rolls a number cube with sides numbered from 1 to 6. The number cube is fair, so a side is rolled at random. This game is this: Reuben rolls the number cube once. He wins $1 if a 1 is rolled, $2 if a 2 is rolled, and $3 if a 3 is rolled. He loses $2.50 if a 4, 5, or 6 is rolled. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. | dollars (b) What can Reuben expect in the long run, after playing the game many times? O Reuben can expect to gain money. He can expect to win dollars per roll. O Reuben can expect to lose money. He can expect to lose| dollars per roll. O Reuben can expect to break even (neither gain nor lose money).
Reuben is playing a game of chance in which he rolls a number cube with sides numbered from 1 to 6. The number cube is fair, so a side is rolled at random. This game is this: Reuben rolls the number cube once. He wins $1 if a 1 is rolled, $2 if a 2 is rolled, and $3 if a 3 is rolled. He loses $2.50 if a 4, 5, or 6 is rolled. (If necessary, consult a list of formulas.) (a) Find the expected value of playing the game. | dollars (b) What can Reuben expect in the long run, after playing the game many times? O Reuben can expect to gain money. He can expect to win dollars per roll. O Reuben can expect to lose money. He can expect to lose| dollars per roll. O Reuben can expect to break even (neither gain nor lose money).
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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Transcribed Image Text:Reuben is playing a game of chance in which he rolls a number cube with sides numbered from 1 to 6. The number cube is fair, so a side is rolled at random.
This game is this: Reuben rolls the number cube once. He wins $1 if a 1 is rolled, $2 if a 2 is rolled, and $3 if a 3 is rolled. He loses $2.50 if a 4, 5, or 6 is
rolled.
(If necessary, consult a list of formulas.)
(a) Find the expected value of playing the game.
| dollars
(b) What can Reuben expect in the long run, after playing the game many times?
O Reuben can expect to gain money.
He can expect to win dollars per roll.
O Reuben can expect to lose money.
He can expect to lose dollars per roll.
O Reuben can expect to break even (neither gain nor lose money).
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