Answered: How much should you win or lose if any…

Math

Probability

How much should you win or lose if any other number turns up in order for the game to be fair?

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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Question

A pair of fair dice is rolled once. Suppose that you lose $8 if the dice sum to 7and win $13if the dice sum to 4 or 8.
How much should you win or lose if any other number turns up in order for the game to be fair?

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