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    Role of the Die

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    A fair die is rolled until win or loss occurs:

    For k=1 to 5: if a 6 occurs on the kth roll you win N dollars and game ends; if a number<k occurs you lose $10 and the game ends; otherwise you roll again.

    For k>5: if a 6 occurs on the kth roll you win N dollars and the game ends; if a number<5 occurs you lose $10 and the game ends; if a 5 occurs you roll again.

    what value should N have for this game to be fair?

    © BrainMass Inc. brainmass.com March 4, 2021, 5:37 pm ad1c9bdddf
    https://brainmass.com/statistics/probability/role-die-statistics-2704

    Solution Preview

    Solution is attached.

    Problem:

    For k=1 to 5: if a 6 occurs on the kth roll you win N dollars and game ends; if a number

    For k>5: if a 6 occurs on the kth roll you win N dollars and the game ends; if a number<5 occurs you lose $10 and the game ends; if a 5 occurs ...

    Solution Summary

    The solution addresses the win and loss that occurs with a roll of the die.

    $2.49

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