Probability of success i.e. getting a 5 or 6=P(s)=62=31.
So, probability of failure i.e. getting any number other than 5 or 6=P(f)=1−P(s)=1−31=32.
Let X be the amount that a man wins in a maximum of three throws.
So, X can take values :
Case I : First two throws are 5 or 6, game stops
⇒X=100⇒P(X=100)=31
Case II : First throw is other than 5 or 6 and second and third throws are 5 or 6, game stops
⇒X=50⇒P(X=50)=32×31=92
Case III : First two throws are other than 5 or 6 and last throw is 5 or 6
⇒X=0⇒P(X=0)=32×32×31=274
Case IV : All three throws are other than 5 or 6
⇒X=−150⇒P(X=−150)=32×32×32=278
Therefore, expected gain or loss
=E(X)=100×31+50×92+0×274−150×278=0