Question 1155648: can you create a lottery question that is a "fair game", calculate the probability of winning, decide cost to play and playoff amounts for winning, and prove the game is a fair game??
plss i really appreciate it. can you create a question with this guidelines?!!
Answer by Boreal(15235)   (Show Source):
You can put this solution on YOUR website! Pay a dollar, and roll a die.
If you guess the number correctly, you get $6, otherwise you lose your $1.
E(X)=$6*(1/6)-$1(6/6). Note: You don't get your dollar back at all, so there is at least a $1 loss. But in 1/6 chances you get $6, which will make the E(X)=0
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