Question

In the “long run,” what is the expected profit, or loss, per game if you pay $2 to play a game and receive $10 if you throw a “doubles” on a single throw of a pair of dice?

Answer 1

the prob of throwing "doubles" is 6/36 = 1/6

so the expected return is $10(1/6) = $1.67
but you are paying $2.00 to play
So in the long run the expected loss per game is 33 cents