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anonymous

  • one year ago

You roll a pair of dice. You bet $1 that you will get a 2,3, or 12. If you win, you are paid $9 (a profit of $8). Show that this is a fair game.

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  1. Vocaloid
    • one year ago
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    the probability of getting 2,3, or 12 is 4/36, or 1/9, and the probability of NOT getting those numbers is 8/9 then, we calculate the expected value: (1/9)(8) + (8/9)(-1) = 0, and since the expected value is 0, this is a fair game

  2. anonymous
    • one year ago
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    @Vocaloid thank you for your help

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