You are playing a dice game called Noluz against one other person. Each time you play, both players pay a quarter. You win the money if a 1 or 4 shows face up on the die. The other player wins if a 2 or 5 comes up, and the piggy bank gets the money if a 3 or 6 comes up. This money will then be donated to a charity that you pick.

Question

Warriorz13 · Answer

What is the question?

ljck4 · Answer

What is the expected value per turn for playing Noluz?

Warriorz13 · Answer

This seems to simple... there are only two players so it would only be two quarters or 50¢

ljck4 · Answer

the answer is.08 why?

Warriorz13 · Answer

8 cents a round? I dunno....

Zepdrix · Answer

You win when a 1 or 4 is rolled.
Two of of the six possible rolls lead to a win ( or one in three simplified).

You lose 25 when you start the game,
and you gain 50 when you win that game.
So, overall, you get +25 on a win.

And you get -25 on a loss.

You're winning 1/3 of your games at +25 a game,
and losing 2/3 of your games at -25 a game:

(1/3)25 + (2/3)(-25) = -8.333

So it seems that the expected value should be -8 cents per game.

Is the answer given a possible value though?

sillybilly123 · Answer

$ \text{ \$ } 0.08(\dot 3)$ is the expected *loss*

you need the -ve sign for it to represent the *expected value*