Value of rolling until something other than a one
Question
You keep rolling a fair die until it shows anything except a , and you are paid in dollars the value of that final roll. What should you pay to play?
Short answer
$4. The stopping roll is equally likely to be or , with average .
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Open the worked solutionLessons behind this question
- Conditional Expectation and Variance Revisited
- Counting and Combinatorics
- Expectation, Mean, and Variance
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