After paying $2 to play, a single fair die isa single fair die is rolled, and you are paid back the number of dollars corresponding to the numberthe number of dots facing up. For example, if aa 3 turns up, $3 is returned to you for a net gain, or payoff, of $1, if aa 1 turns up, $1 is returned for a net gain of minus−$1, and so on. What is the expected value of the game? Is the game fair?
After paying $2 to play, a single fair die isa single fair die is rolled, and you are paid back the number of dollars corresponding to the numberthe number of dots facing up. For example, if aa 3 turns up, $3 is returned to you for a net gain, or payoff, of $1, if aa 1 turns up, $1 is returned for a net gain of minus−$1, and so on. What is the expected value of the game? Is the game fair?
Chapter8: Sequences, Series,and Probability
Section: Chapter Questions
Problem 41CT: On a game show, a contestant is given the digits 3, 4, and 5 to arrange in the proper order to form...
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Question
After paying
$2
to play,
a single fair die isa single fair die is
rolled, and you are paid back the number of dollars corresponding to
the numberthe number
of dots facing up. For example, if
aa
3
turns up,
$3
is returned to you for a net gain, or payoff, of $1, if
aa
1
turns up,
$1
is returned for a net gain of
minus−$1,
and so on. What is the expected value of the game? Is the game fair?
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