Consider a game in which a fair die is rolled. if the die comes up 1, the player wins $2. if the die comes up 2, the player wins $1. for all other outcomes, the player loses $1. what is the expected amount that the player wins or loses? round to the nearest cent.

Expected amount is loss of 0.167 $.

Step-by-step explanation:

Probability is the ratio of number of favorable outcome to total number of outcomes.

Total number of outcomes = 6, since the die has 6 faces.

If the die comes up 1, the player wins $2. If the die comes up 2, the player wins $1. For all other outcomes, the player loses $1.

Now we need to find expected amount that the player wins or loses.

Expected amount = ∑Probability of event x Winning or losing on that event

Expected amount is loss of 0.167 $.