Author Question: Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For ... (Read 87 times)

crazycityslicker · **on:** Apr 19, 2019

Question 1

Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For all other outcomes you pay $6. The $30 when you "win" and the -$6 when you "lose" are called

◦ payoffs.
◦ trade-offs.
◦ incentives.
◦ expected values.

Question 2

Consider the following game. You roll a six-sided die and each time you roll a 6, you get $30. For all other outcomes you pay $6. What is the expected value of the game?

◦ -$6
◦ $0
◦ $6
◦ $30

DHRUVSHAH · **Reply #1 on:** Apr 19, 2019

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