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Over Christmas break, I was at an Elk Lodge that offered the following dice game that...

Over Christmas break, I was at an Elk Lodge that offered the following dice game that cost $1 to play. You roll 5 six-sided dice and win the money in the pot if all 5 dice are the same (e.g., all ones). When I was there, the pot was at $156.

a) Based upon probability, should I have played?

b) Based upon probability, what is the minimum amount of money required in the pot for me to play?

Math   Statistics-And-Probability   
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