Suppose someone gives you 14 to 4 odds that you cannot roll two even numbers with the roll of two fair dice. This
means you win $14 if you succeed and you lose $4 if you fail. What is the expected value of this game to you? Should
you expect to win or lose the expected value in the first game? What can you expect if you play 200 times?
Explain. (The table will be helpful in finding the required probabilities.)
-What is the expected value of this game to you?
ANSWER:
-Should you expect to win (or lose) an amount equal to the expected value in the first game?
A: Yes, you can expect to win (or lose) the expected value in the first game
B: No, the outcome of one game cannot be predicted
Explain this result.
Averaged over 200 games, you should expect to ____ (win/lose) $____
