A pair of dice is rolled once. Suppose you lose $10 if a 7 turns up and win $11 if an 11 or 12 turns
A pair of dice is rolled once. Suppose you lose $10 if a 7 turns up and win $11 if an 11 or 12 turns up. How much should you win or lose if any other number turns up in order for the game to be fair?
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Answer 1 This problem turns out to be a special case of the St Petersburg paradox which ... View full answer
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Authors: Raymond Barnett, Michael Ziegler, Karl Byleen, Christopher Stocker
14th Edition
0134674146, 978-0134674148
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