Suppose You Pay $3 $- \$ 1.33$ B) $- \$ 3.00$ C) $\$ 5.00$

Multiple Choice

Suppose you pay $3.00 to roll a fair die with the understanding that you will get back $5.00 for rolling a 1 or a 2, nothing otherwise. What is your expected value?

A) $- \$ 1.33$
B) $- \$ 3.00$
C) $\$ 5.00$
D) $\$ 3.00$