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Probability & Statistics : Outcome of Dice Rolls

Two people play a game. A single die is thrown. If the outcome is a 2 or a 3, then player A pays player B $6.00. How much should B pay A when a 1, 4, 5, or 6 is thrown so that A and B break even, on average, over many repititions of the game?

a. $2.00
b. $8.00
c. $4.00
d. $6.00
e. None of the above

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Solution Preview

It is clear that when a single dice is thrown, the outcome is one of 1, 2,3,4,5,or 6 occurs at the same probability 1/6. So, a single dice is ...

Solution Summary

The outcome of die rolls is investigated. The solution is detailed and well presented. The response received a rating of "5" from the student who originally posted the question.