You work at a casino where your boss wants you to help her develop a new game. In that game, a person rolls two fair si
Posted: Mon Jul 11, 2022 11:56 am
You work at a casino where your boss wants you to help herdevelop a new game. In that game, a person rolls two fairsix-sided dice. If a person rolls more than a sum of 7, it isconsidered a win. They roll the two dice a total of 5 times. This means they could have anywhere from 0 wins to 5 wins. Prizesand the amount of the prize for various wins are listed below.
Number of Wins
0
1
2
3
4
5
Prize Amount
$0
$1.00
$2.50
$3.00
$5.00
$12.00
Your boss wants you to figure out how much to charge for thegame. If you charge too much money, a person won’t want toplay the game. If you charge too little money, you might not makeup for the cost of the prizes being given away. Determine theprobability of winning each type of prize and how much should becharged if the company wants to break even. (Break even means thecompany wins $0 on average in the long run.)
Here are the probabilities for rolling a certain number with atwo dice roll:
Number of Wins
0
1
2
3
4
5
Prize Amount
$0
$1.00
$2.50
$3.00
$5.00
$12.00
Your boss wants you to figure out how much to charge for thegame. If you charge too much money, a person won’t want toplay the game. If you charge too little money, you might not makeup for the cost of the prizes being given away. Determine theprobability of winning each type of prize and how much should becharged if the company wants to break even. (Break even means thecompany wins $0 on average in the long run.)
Here are the probabilities for rolling a certain number with atwo dice roll: