I offer you the following game. Suppose I have a fair 100-sided dice. Each roll of the dice will cost you $1 - however, you can roll the dice as many times as you want. At any point, you can choose to stop rolling, and I will pay you the amount of money shown. When should you stop rolling the dice, and how much money do you expect to make?

I offer you the following game. Suppose I have a fair 100-sided dice. Each roll of the dice will cost you $1 - however, you can roll the dice as many times as you want. At any point, you can choose to stop rolling, and I will pay you the amount of money shown. When should you stop rolling the dice, and how much money do you expect to make?

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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I offer you the following game. Suppose I have a fair 100-sided dice. Each roll
of the dice will cost you $1 - however, you can roll the dice as many times as you want. At
any point, you can choose to stop rolling, and I will pay you the amount of money shown.
When should you stop rolling the dice, and how much money do you expect to make?

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