The casino game of craps is played as follows: Roll 1- The player rolls a pair of standard 6-sided dice and takes their sum - If the sum is 7 or 11, then the player wins and the game is over - If the sum is 2, 3, or 12, then the player loses (this is called “crapping out”) and the game is over - If the sum is anything else, then we record the sum (lets call it “X”) and continue to the next step Roll 2: The player then rerolls the dice and takes their sum - If the sum is X, the player wins and the game is over - If the sum is 7, the player loses and the game is over - If the sum is anything else, repeat step 2. Question If you play the game of craps with these two dice, you will get one dollar if you win, and lose one dollar if you lose, then what is the expected return for playing the game?
The casino game of craps is played as follows:
Roll 1- The player rolls a pair of standard 6-sided dice and takes their sum
- If the sum is 7 or 11, then the player wins and the game is over
- If the sum is 2, 3, or 12, then the player loses (this is called “crapping out”) and
the game is over
- If the sum is anything else, then we record the sum (lets call it “X”) and continue
to the next step
Roll 2: The player then rerolls the dice and takes their sum
- If the sum is X, the player wins and the game is over
- If the sum is 7, the player loses and the game is over
- If the sum is anything else, repeat step 2.
Question
If you play the game of craps with these two dice, you will get one dollar if you win, and lose one dollar if you lose, then what is the expected return for playing the game?
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