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You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!

You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!
Transcribed Image Text:You decide to play a game where you roll 3 six-sided dice and follow these rules: You get $5.00 for every 5 you roll. You lose $2.00 for every other number you roll. (For example, if you roll 1, 5, then 2, you would lose $2 for rolling the 1, get $5.00 for rolling the 5, and lose $2 for rolling the 2) If you play this game once, what is the expected value of your winnings (or losings)? Hint: Use the binomial distribution for the probabilities!
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