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Probabilty

A single die is rolled once. You lose $12 if a number divisible by 3 turns up. How much should you win if a number not divisible by 3 turns up for the game to be fair?

How would I set this up, and what formulas?

Solution Summary

This is an example of how to work with probabilities to determine how much a person should win by in a given situation.

$2.19