Question Posted Wednesday November 30 2005, 5:41 am
Hi, can you help me with this question?
In a game, a player throws two unbiased dice. If he scores 12, he receives $1; if he scores 11, 10 or 9, he receives 40 cents. What is his expected winnings if he has to pay 15 cents for each throw of two dice?
you sound like a gambler here. i am no mathematician, but my guess would be:
cost = $0.15 (to throw 2 dice)
receives for scoring at 9/10/11 = $0.40
hence winnings = $(0.40 - 0.15) = $0.25
should he win [the chance of getting at least 9 = (1/6 x 1/6) x 4 = 1/12], he will earn at least $0.25.
assuming he throws 12 times to guarantee at least 1 hit, he will actually lose money as $0.25 - $(0.15 x 12) = -$17.75.
i suggest that your friend tries playing the stock market instead.
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