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
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!](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fdd18714a-6a9e-4b71-8fa9-f4b4a4160335%2F77f20b2b-b898-4ce8-a1f7-927b9597c87b%2Fwq9fif_processed.jpeg&w=3840&q=75)
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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