Homework Help Question & Answers

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

The game called 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?
Not a clue on this one.
0 0
Next > < Previous
ReportAnswer #1
expected return on a roll of 1 = (1/6)*1 = .1667
expected return on a roll of 2 = (1/6)*2 = .3333
expected return on a roll of 3 = (1/6)*3 = .5
expected return on a roll of 4 = (1/6)*4 = .6667
expected return on a roll of 5 = (1/6)*5 = .8333
expected return on a roll of 6 = (1/6)*6 = 1.0

the sum of the above is $3.50

So that would be the cost per game to break even
(fair game)
answered by: manny
Know the answer?
Add Answer of:
The game called dots is played by rolling a fair die and receiving 1$ for each dot showing on the top face of the die
Your Answer: Your Name: What's your source?
Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions
Need Online Homework Help?
Ask a Question
Get FREE Expert Answers
WITHIN MINUTES