Thinking Mathematically (6th Edition)

Published by Pearson
ISBN 10: 0321867327
ISBN 13: 978-0-32186-732-2

Chapter 11 - Counting Methods and Probability Theory - 11.8 Expected Value - Exercise Set 11.8 - Page 756: 27

Answer

Doesn't make sense.

Work Step by Step

By definition, the expected value is the sum of each outcome multiplied by its probability. Hence here the expected value: $\frac{2}{6}\cdot500+\frac{1}{6}200+\frac{3}{6}300=350$, so if I play $10$ times I am expected to win $10\cdot350=3500$ which is greater than $1000$, thus it is worth playing, thus the statement doesn't make sense.
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