Posted by **C.J ** on Saturday, January 23, 2010 at 5:17pm.

the game of dots is played by rolling a fair die and receiving 1$ for each dot showing on the top face of the die. What cost should be set for each roll if the game is to be considered a fair game?

- Math-Fair Game question -
**Reiny**, Saturday, January 23, 2010 at 6:15pm
expected value

= (1/6)(1) + (1/6)(2) + (1/6)(3) + (1/6)(4) + (1/6)(5) + (1/6)(6)

=(1/6)(1+2+3+4+5+6) = 21/6

= 3.5

so a fair cost would be $3.50

- Math-Fair Game question -
**courtney**, Saturday, February 9, 2013 at 7:42pm
Expected Value

• Making choices by comparing their expected values is a pervasive method of analysis because of its ease of computation and its power. Let’s say you roll a fair die and you were paid, in dollars, the number that landed face up from a fair die roll, what is the most you would pay to play that game? If you were to pay this amount and play this game repeatedly, over a long period of time, how much money would you expect to gain or lose, on average? What if you paid more to play the game? What if you paid less?

- Math-Fair Game question -
**Walter**, Tuesday, March 19, 2013 at 9:51am
What is the answer of is finish first a fair game

## Answer this Question

## Related Questions

- math fair - The game of dots is played by rolling a fair die and receiving $1 ...
- Math - The game of dots is played by rolling a fair die and receiving $1 for ...
- math - The game of dots is played by rolling a fair die and receiving $1 for ...
- Math - The game of dots is played by rolling a fair die and receiving $1 for ...
- Math - The game of dots is played by rolling a fair die and receiving $1 for ...
- Math - The game of dots is played by rolling a fair die and receiving $1 for ...
- Math - The game of dots is played by rolling a fair die and receiving $1 for ...
- math - The game of dots is played by rolling a fair die and receiving $1 for ...
- Math 157 - The game of dots is played by rolling a fair die and receiving $1 for...
- MATH Prob. - The game of dots is played by rolling a fair die and receiving $1 ...

More Related Questions