The Golden-Beacon Royale Casino is considering adding a new game to its gaming floor. The latest research has been pushing towards nostalgic games. Several of its competitors have introduced games like Monopoly, Scrabble, and even the card game -

WAR.

Upper management thought that Yahtzee would be an excellent game: it's nostalgic and it's easy to play. Plus, the casino already has the gaming materials (dice, cups, etc.) so it wouldn't require significant equipment investment. There would still be an initial investment for setup and marketing.

Your analytics group has been hired to advise the casino on the viability of introducing the new game. It is your task to accomplish the following:

1.) The casino owners would like to know the house's advantage.

2.) Given the initial proposed payoffs, is the advantage for the customer or the house?

3.) The house would like to have at least a 65% advantage, what would you advise them to change?

Here is the probability sheet: Yahtzee Hit Miss 1:Odds Payout 5 match 0.08% 99.92% 1296.00 800.00 4 match 1.93% 98.07% 51.84 32.00 3 match 19.29% 80.71% 5.18 1.00 2 match 69.44% 30.56% 1.44 0.00 No match 9.26% 90.74% 10.80 8.00 Time per play: 30 Seconds