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11 October, 21:41

You are at a Casino and have two dices to play with. You win $10 every time you roll a 5. If you play till you win and then stop, what is the expected payout

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  1. 11 October, 22:14
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    10$, with a probability of winning of just 11%

    Explanation:

    If you have two dices, you can get 36 possible different results, and there are 4 different combinations that can get you a 5:

    Result in Dice #1 Result in Dice #2 Total on dice

    1 4 5

    2 3 5

    3 2 5

    4 1 5

    The probability of getting a five is therefore 11% (4/36 = 0.11 = 11%).

    The expected payout if you win is $10 because the question says that you will play till you win and then stop playing, however, the probablity of winning is low, 11%, and that must be taken into account.
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