document.write( "Question 1100838: Suppose it costs $22 to roll a pair of dice. You get paid 3 dollars times the sum of the numbers that appear on the dice. What is the expected payoff of the game? Is it a fair game? \n" ); document.write( "
Algebra.Com's Answer #715400 by stanbon(75887)![]() ![]() ![]() You can put this solution on YOUR website! Suppose it costs $22 to roll a pair of dice. You get paid 3 dollars times the sum of the numbers that appear on the dice. What is the expected payoff of the game? Is it a fair game? \n" ); document.write( "----- \n" ); document.write( "Random payof #'s:3*2...3*3...3*4...3*5...3*6...3*7...3*8...3*9...3*10...3*11..3*12 \n" ); document.write( "Matching prob::::1/36..2/36..3/36..4/36..5/36..6/36..5/36..4/36..3/36..2/36...1/36 \n" ); document.write( "------------------ \n" ); document.write( "Expected value:: [6+18+36+60+90+126+120+108+90+66+36]/36 - 22 = -1 \n" ); document.write( "----- \n" ); document.write( "You can expect to loose $1.00 on each roll. \n" ); document.write( "------------ \n" ); document.write( "The game is not fair. \n" ); document.write( "------------- \n" ); document.write( "Cheers, \n" ); document.write( "Stan H. \n" ); document.write( "---------------- \n" ); document.write( " |