Math-Fair Game question

posted by C.J

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?

  1. Reiny

    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

  2. courtney

    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?

  3. Walter

    What is the answer of is finish first a fair game

Respond to this Question

First Name

Your Answer

Similar Questions

  1. MATH Prob.

    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?
  2. math

    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?
  3. math fair

    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?
  4. Math

    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?
  5. Math

    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?
  6. Math

    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?
  7. Math

    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 consdiered a fair game?
  8. math

    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?
  9. Math 157

    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?
  10. Math

    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?

More Similar Questions