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A game consists of rolling a colored die with three green sides, two red sides, and one blue side. A roll of a red loses. A roll of blue pays $6.00. A roll of green pays $2.00. What is a "fair" price to pay to play? (What is the expected value of one play?)

A game consists of rolling a colored die with three green sides, two red sides, and one blue side. A roll of a red loses. A roll of blue pays $6.00. A roll of green pays $2.00. What is a "fair" price to pay to play? (What is the expected value of one play?)

Database System Concepts
Database System Concepts
7th Edition
ISBN:9780078022159
Author:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Publisher:Abraham Silberschatz Professor, Henry F. Korth, S. Sudarshan
Chapter1: Introduction
Section: Chapter Questions
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A game consists of rolling a colored die with three green sides, two red sides, and one blue side. A roll of a red loses. A roll of blue pays $6.00. A roll of green pays $2.00. What is a "fair" price to pay to play? (What is the expected value of one play?)
Transcribed Image Text:A game consists of rolling a colored die with three green sides, two red sides, and one blue side. A roll of a red loses. A roll of blue pays $6.00. A roll of green pays $2.00. What is a "fair" price to pay to play? (What is the expected value of one play?)
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