In a game, a man wins a rupee for a six and loses a rupee for any other number when a fair die is thrown. The man decided to throw a die thrice but to quit as and when he gets a six. Find the expected value of the amount he wins/loses.
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Ans: We have
Probability of getting a six is $p=\frac{1}{6}$
Probability of getting no six is $q=\frac{5}{6}$
There are three possible ways to get a six in three trials:
He gets a six only at first throw
probability $=\frac{1}{6}$
Rupee won $=1$
He gets a six at second throw
probability $=\frac{1}{6}\times \frac{5}{6}$
Rupee won $=-1+1=0$
He gets a six at third trial
probability $=\frac{5}{6}\times \frac{5}{6}\times \frac{1}{6}=\frac{25}{216}$
Rupee won $=-1-1+1=-1$
Thus Expected value can be calculated as shown
$1\times \frac{1}{6}+0\times \frac{5}{36}+-1\times \frac{25}{216}=\frac{11}{216}$