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The game of dots is played by rolling a fair die and recieving $1 for each dot showing on the top face of the die

The game of dots is played by rolling a fair die and recieving $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?
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The game of dots is played by rolling a fair die and recieving $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? ----------------------- The probability of each number value is 1/6. The expected earnings on the game is: (1/6)(1 + 2 + 3 + 4 + 5 + 6) = (1/6)*21 = 7/2 = 3.5 --------------- To make the game fair and charge should be $3.50 since the expected earnings is $3.50. ============================================================= Cheers, Stan H. =============================================================
answered by: Margie
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