SOLUTION: Any help would be appreciated, please help me with this question: You are interested in playing a game where three different colored dice are rolled. To win, you need tp predic

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Question 744554: Any help would be appreciated, please help me with this question:

You are interested in playing a game where three different colored dice are rolled. To win, you need tp predict which colored dice will roll each number (The color and number must match). It costs $12 to play this game.

a. If you were paid $100 for correctly guessing all of the dice, what would be the expected value of playing this game?

b. If the only way to win is to guess all three dice correctly, how much should the prize be for winning in order for the game to be fair?

c. Suppose it costs $1 to play the game. you are paid $3 for correctly guessing one of the dice, $10 for correctly guessing two dice and $200 for correctly guessing all three dice. What is the expected value for playing this game?
Answer by lynnlo(4176) (Show Source):
You can put this solution on YOUR website!