A gambler can roll a fair die up to four times. Before each roll, he must decide whether to roll one more time orstop the game and collect: his payoff is a doubled amount of the last score (e.g., if the last score is 3, he can collect$6). Each roll costs $3. Find the optima
A gambler can roll a fair die up to four times. Before each roll, he must decide whether to roll one more time orstop the game and collect: his payoff is a doubled amount of the last score (e.g., if the last score is 3, he can collect$6). Each roll costs $3. Find the optima
A First Course in Probability (10th Edition)
10th Edition
ISBN:9780134753119
Author:Sheldon Ross
Publisher:Sheldon Ross
Chapter1: Combinatorial Analysis
Section: Chapter Questions
Problem 1.1P: a. How many different 7-place license plates are possible if the first 2 places are for letters and...
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A gambler can roll a fair die up to four times. Before each roll, he must decide whether to roll one more time orstop the game and collect: his payoff is a doubled amount of the last score (e.g., if the last score is 3, he can collect$6). Each roll costs $3. Find the optimal roll/stop strategy that maximizes his expected gain.
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