Consider the game consisting of rolling a pair of fair 6-sided dice and recording the sum....

Consider the game consisting of rolling a pair of fair 6-sided dice and recording the sum. It will cost you $1 to play the game. If the sumis less than 5, then you will win $3. However, you do not get your $1 back so your profit is $2. If you roll a sum of exactly8, thenyou will win $4. However, you do not get your $1 back so your profit is $3. Otherwise, you lose your $1.

A.What is your expected profit per dollar wagered? Show all work. Giveyour answer as a sentence.

B.Is this a good game to play a great number of times? Explain.

Expert Solution

orchestra answered 2 years ago

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