Role of the Die
Not what you're looking for?
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?
Purchase this Solution
Solution Summary
The solution addresses the win and loss that occurs with a roll of the die.
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 ...
Purchase this Solution
Free BrainMass Quizzes
Measures of Central Tendency
This quiz evaluates the students understanding of the measures of central tendency seen in statistics. This quiz is specifically designed to incorporate the measures of central tendency as they relate to psychological research.
Measures of Central Tendency
Tests knowledge of the three main measures of central tendency, including some simple calculation questions.
Terms and Definitions for Statistics
This quiz covers basic terms and definitions of statistics.
Know Your Statistical Concepts
Each question is a choice-summary multiple choice question that presents you with a statistical concept and then 4 numbered statements. You must decide which (if any) of the numbered statements is/are true as they relate to the statistical concept.