Multiple choice

You have been offered the chance to play a dice game in which you will receive $Rs. 20/-$ each time if the total of the points on the two dice is $6$, what will be your decision if it costs $Rs. 3/-$ per toss instead of $Rs. 2.50/-$

  1. Yes

  2. No

  3. Ambiguous

  4. Data Insufficient
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Probability of sum 6 with two dice: (1,5), (2,4), (3,3), (4,2), (5,1) = 5/36. Expected return per toss = (5/36) * 20 = 100/36 = 2.77. Since the cost is 3, the expected value is 2.77 - 3 = -0.23. Since the expected value is negative, the decision should be No.

AI explanation

The probability of rolling a sum of 6 on two dice is 5 out of 36 total outcomes. The expected return per toss is calculated by multiplying the winning probability by the prize, yielding (5/36) * 20, which equals 100/36 or approximately Rs. 2.78. Since the cost to play is Rs. 3 per toss, your expected loss is about 22 paise per toss, making it a losing proposition. Therefore, you should not play the game.

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