Question:
A player chooses one of the numbers 1 through 4. After the choice has been made, two regular four-sided (tetrahedral) dice are rolled, with the sides of the dice numbered 1 through 4. If the number chosen appears on the bottom of exactly one die after it is rolled, then the player wins $\$1.$ If the number chosen appears on the bottom of both of the dice, then the player wins $\$2.$ If the number chosen does not appear on the bottom of either of the dice, the player loses $\$1.$ What is the expected return to the player, in dollars, for one roll of the dice? Give your answer as a fraction.

Answer:
The probability of the number appearing 0, 1, and 2 times is \begin{align*}
&P(0) = \frac{3}{4}\cdot \frac{3}{4} = \frac{9}{16},\\
&P(1) = 2\cdot\frac{1}{4}\cdot \frac{3}{4} = \frac{6}{16},
\quad\text{and}\\
&P(2) = \frac{1}{4}\cdot \frac{1}{4} = \frac{1}{16},
\end{align*} respectively. So the expected return, in dollars, to the player is \begin{align*}
P(0)\cdot (-1) + P(1)\cdot (1) + P(2)\cdot (2) &= \frac{-9 + 6 +
2}{16} \\
&= \boxed{-\frac{1}{16}}.
\end{align*}