You are playing dice against Big Doggie G, and if you roll a 4, 5 or...
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You are playing dice against Big Doggie G, and if you roll a 4, 5 or 6 you win $100. Since the average value of rolling dice (1-6) is 3.5, you should have a 50% chance of winning. It turns out that the dice are loaded- there is three times as much probability of rolling a 1, 2 or 3 than a 4, 5 or 6. What is the average value of rolling the loaded dice? ( (3 You are playing dice against Big Doggie G, and if you roll a 4, 5 or 6 you win $100. Since the average value of rolling dice (1-6) is 3.5, you should have a 50% chance of winning. It turns out that the dice are loaded- there is three times as much probability of rolling a 1, 2 or 3 than a 4, 5 or 6. What is the average value of rolling the loaded dice? ( (3
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In the problem were informed that the dice are loaded in such a way that theres three times as much ... View the full answer
Related Book For
Microeconomics An Intuitive Approach with Calculus
ISBN: 978-0538453257
1st edition
Authors: Thomas Nechyba
Posted Date:
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