Please help: A game consists of tossing a coin and rolling a

pixylove23

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Sep 26, 2006
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A game consists of tossing a coin and rolling an ordinary die. If the player rosses a head and rolls an even number, the player wins $3. Otherwise, the player pays $1.

A) What is the expected value of this game?

B) Is this a fair game?

How do i go about solving this!
Please Help
 
The probability of winning is (1/2)(1/2) or (1/4). So you expect $3(1/4) winnings.

The probability of losing is (3/4). So you expect $-1(3/4) lost.
 
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