Question

John threw a dice 20 times and noted the number appearing each time as follows:2, 4, 4, 6, 1, 5, 5, 5, 1, 1, 2, 3, 6, 6, 6, 6, 3, 1, 5, 5Arrange the above data in a tabular form using tally marks.

Answer 1

Answer:

19

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In order to win $21, you need to come up with (1,6), (2,5), (3,4), (4,3), (5,2), (6,1) on two dice. There are 6*6=36 possible outcomes, so the chance of wining in 6/36=1/6, in which case you actually earn 21-5=$16. The chance of loosing is of course 5/6 and you earn -$5. So, your expected earning is:

1/6*16 + 5/6*(-5) = -1.5

So, you are expected to loose money in average!