Author Question: Consider the following game. You roll a six-sided die and each time you roll a 1, you get $50. For ... (Read 39 times)

Zoey63294 · **on:** Apr 19, 2019

Question 1

Consider the following game. You roll a 6-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. The $50 when you "win" and the -$10 when you "lose" are known as

◦ payoffs.
◦ winnings and losings, respectively.
◦ incentives.
◦ expected values.

Question 2

Consider the following game. You roll a six-sided die and each time you roll a 1, you get $50. For all other outcomes you pay $10. The expected value of the game is

◦ -$10.
◦ $0.
◦ $10.
◦ $50.

Jmfn03 · **Reply #1 on:** Apr 19, 2019

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