SOLUTION: Suppose it costs $48 to roll a pair of dice. You get paid $7 times the sum of the numbers that appear on the dice. Is it a fair game?
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Question 1185112: Suppose it costs $48 to roll a pair of dice. You get paid $7 times the sum of the numbers that appear on the dice. Is it a fair game?
Found 3 solutions by ikleyn, greenestamps, robertb:
Answer by ikleyn(52780) (Show Source): You can put this solution on YOUR website!
Answer by greenestamps(13200) (Show Source): You can put this solution on YOUR website!
By symmetry, the average of the two numbers that show on the dice is 7, so the average payout is 7 times $7, or $49.
Since it costs $48 to play the game, the game is not fair; it favors the player.
Answer by robertb(5830) (Show Source): You can put this solution on YOUR website!
===> .
Therefore the game is fair for you -- you expect to earn $1 on average if you played the game long enough.
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