Question

Suppose you pay $2.00 to roll a fair die with the understanding that you will get back $4.00 for rolling a 4 or 5, nothing otherwise. What is your expected value?

Answer 1

-$0.67

Answer 2

How did you come to this answer. I don't get it.

Answer 3

what do you need help with?

Answer 4

I need to know how everyone comes to the -.67 answer.

Answer 5

I didn't say that was the answer. But I'll tag them on the form so they can explain.

Answer 6

@DogzCatz