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You are on a TV show. You have been asked to either play a dice game five times or accept a $50 bill. The dice
You are on a TV show. You have been asked to either play a dice game five times or accept a $50 bill. The dice game works like this.If you roll a 1, 2 or 3, you win $45. If you roll a 4 or 5, you lose $21. If you roll a 6, you lose $85.Should you play the game? Use expected values and decision theory to justify your answer. (Round the answer to the nearest cent.)
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