You play a gambling game with a friend in which you roll a die. If a 1 or 2 comes up, you win $7. Otherwise you lose $3. What is your expected value for this game?
Md Ariful Islam
বিএসসি(সিএসই)
,
এমবিএ(মার্কেটিং)
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Dr. Md Rushad Rahman
এমবিবিএস(আরপিএমসি)
,
পিজিটি(মেডিসিন)
The expected value is the average of the six equally likely outcomes, (+7+7-3-3-3-3)/6 - it simplifies to $1/3.
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