Question 628489
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Hi,
half of the pie at $2, 1/4 at $10 and 1/4 at $15... It costs $8 to play the game
 
Expected "winnings" = {{{-6(1/2) + 2(1/4) + 7(1/4)}}} = -.75¢
The fair price to play the game:{{{(2-x)(1/2) + (10-x)(1/4) + (15-x)(1/4)}}} = 0
{{{(2-x)(1/2) + (10-x)(1/4) + (15-x)(1/4)}}} = 0 |Multiplying thru by 4 so as all denominators = 1
    4 - 2x + 10 - x + 15 - x = 0
               29 = 4x
                x = 29/4 = $7.25