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December 20, 2014

December 20, 2014

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

- Math-Fair Game question -
**Reiny**, Saturday, January 23, 2010 at 6:15pmexpected 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 7:42pmExpected 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 9:51amWhat is the answer of is finish first a fair game

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