Question: Complete the following tables. These dice games are to be similar to Judy’s Game. However, the expected value for the player in Dice Game 1 is to be positive. And the expected value for the player in Dice Game 2 is to be negative. The winning amounts must $0 or greater. You cannot enter a negative value for the amount won. You can not change the values that are already in the tables. In each case the player bets $1 on the game.

Dice Game 1:

Dice Game 2:

1. Show the computations to show that the expected value for game 1 is positive.
2. Show the computations to show that the expected value for game 2 is negative.
3. Explain how you decided what values to use for the win row for Dice game 1?
4. Explain how you decided what values to use for the win row for Dice game 2?

Price: $2.99

Solution: The downloadable solution consists of 2 pages
Deliverable: Word Document