Question

It costs $6 to play the game. Determine:

The expectation of a person who plays the game.


The fair price to play the game.


$2.00= 1/2 of the pie
$ 5.00= 1/4 of the pie
$ 8.00 = 1/4 of the pie

Answer 1

(0.5 x2) +(0.25 x8)+(0.25 x 5)=$ 4.25

$6.00 - $4.25= $ 1.75 losing on average

Answer 2

are those the amounts of money you win?

Answer 3

yes

Answer 4

then you are exactly right