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ELEVEN PEOPLE HAVE ELEVEN DIFFERENT FAVORITE NUMBERS FROM 2 TO 12. THEY ALL AGREE TO PARTICIPATE IN A 10,000-ROLL DICE GAME WHERE THEY BET $1

ELEVEN PEOPLE HAVE ELEVEN DIFFERENT FAVORITE NUMBERS FROM 2 TO 12. THEY ALL AGREE TO PARTICIPATE IN A 10,000-ROLL DICE GAME WHERE THEY BET $1 ON THEIR FAVORITE NUMBER FOR EACH ROLL OF TWO STANDARD (FAIR) DICE. A DONOR KICKS IN AN EXTRA DOLLAR EVERY ROUND, SO THE PAYOFF IF YOUR NUMBER COMES UP IS $12.00.

A. ASSUMING EVERYONE BETS ON ALL 10,000 ROUNDS, WHAT IS THE EXPECTED VALUE FOR A PERSON WHO HAS NUMBER 7? SHOW WORK

B. ASSUMING EVERYONE BETS ON ALL 10,000 ROUNDS, WHAT IS THE EXPECTED VALUE FOR A PERSON WHO HAS NUMBER 2?

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