- #1

hamza2095

- 28

- 1

This is how the games goes

You pay $20 to start and there are three rounds

Round 1: There is a 1/2 chance you win and move on, and a 1/2 chance you lose

Round 2: There is a 2/6 chance you move on to the next round, and 1/6 chance you win $10 AND move on. (3/6 chance you lose and get nothing)

Round 3: There is 1/12 chance you win $100, and if you lose you get nothing

Here is my attempt at it

After multiplying every correlating x and y value i get E(X) = -18.5, meaning the profit the ones running the game make is $18.5

Help is greatly appreciated!