...the value of the upper face? in points. if an odd number shows you lose points equivalent to triple the value of the upper face
a) what is te exectation?
b)is this game fair?explain?
...the value of the upper face? in points. if an odd number shows you lose points equivalent to triple the value of the upper face
a) what is te exectation?
b)is this game fair?explain?
a)You have 1/2 probability of getting an even number and a 1/2 probability of getting an odd number. 2 points for even, -3 points for odd.
Even= 1/2 x 2
= 1
Odd = 1/2 x -3
= -1.5
add 1 and /1.5 to get -0.5
b) Not fair because you will lose more points than win.