Question

The following describes a dice game played at a carnival. The game costs $5 to play. You roll the die once. If you roll a one or a two, you get nothing. If you roll a three or a four, you get $4 back. If you roll a five you get your $5 back and if you roll a six, you receive $12. What is your Expected Value? Should you play the game?

Answer #1

Since, **E(x) = -5/6 = -0.83**

Because the expected value is a negative answer, we'd say that the game is NOT fair. In the long run, players of this game will lose money. A fair game would yield an expected value of zero. So, now that we've calculated expected value and we know it's negative, how do we interpret this? The expected value of this problem could be interpreted as: If you were to play the game one time each week over a six-week period (and each time get a different outcome (1-6)), your _average_ loss would be $0.83 per play.

. A
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you roll a fair six-sided die. If you roll a six, you win three
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You are trying to decide whether to play a carnival game that
costs $1.50 to play. The game consists of rolling 3 fair dice. If
the number 1 comes up at all, you get your money back, and get $1
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value for the random variable X, where:
X = profit from playing the...

B: A game is played with two strange dice.
Dice A: Five sides display "4" and one side displays "1"
Dice B: Two sides display "5" and four sides display "3"
In StatCrunch, create a probability model for the total sum you
get when you roll the two dice. Then use StatCrunch to find the
mean and standard deviation of your model. Take a screen shot that
displays BOTH items and submit it.

1. Game of rolling dice
a. Roll a fair die once. What is the sample space? What is the
probability to get “six”? What is the probability to get “six” or
“five”?
b. Roll a fair die 10 times. What is the probability to get
“six” twice? What is the probability to get six at
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c. Roll a fair die 10 times. What is the expected value and
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d. If you roll the die...

Problem 4)A simplified version of the dice game 10,000 is played
using 5 dice. The player rolls the 5 six-sided dice, each 1 that is
rolled, the player achieves a score of 100.
A) How many possible ways are there to roll i l's over these 5
dice? (Hint: use combinations)
B) The probability of any one dice rolling to a value of 1 is
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distribution. Calculate the probability...

A bar has a dice game that works as follows: You simultaneously
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is, what is the probability that in your three tries, at least one
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Bunco is a group dice game that requires no skill. The objective
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consider a simpler version involving only two dice. How do you play
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1. Answer the following questions on probability
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