This game will play like this : 1) You start with $100 2) You roll a...

This game will play like this :

1) You start with $100

2) You roll a regular six-sided die:

{ 1 or 2 --> I multiply your money by 1/5 }

{ 3 or 4 --> I take all your money}

{ 5 or 6 --> I multiply your money by 6 }

3) With whatever money you have left, we repeat step (2) one more time

4) Then we stop

Find the expected amount of money you will have at the end of this game.

Expert Solution

So if a gmae is started with $100 and in first game you win $20, expected amount of money you will get is $348.

If a game is started with $100 and you win $100 in first game, expected amount of money you will get is $480.

If a game is started with $100 and you win $600 in first game, expected amount of money you will get is $1680.

orchestra answered 2 years ago

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