The game of dots is played by rolling a fair die and receiving $1 for each dot showing on the top face of the die. What cost should be set for each roll if the game is to be considered a fair game?

Question

The game of dots is played by rolling a fair die and receiving $1 for each dot showing on the top face of the die.  What cost should be set for each roll if the game is to be considered a fair game?

bobpursley · Answer

The expected value of throwing the die is.. 1/6(1+2+3+4+5+6)=21/6 dollars. That is the fair cost of playing the game.