Question

For fun
Suppose you roll a die, if you get 1 and 2, i give you 200$, but if you get 3,4,5,6 you give me 100$.
whats the chance that you would lose any money if u rolled the die 10 times

Answer 1

I never lose.

Answer 2

What are the chances of me rolling a die to lose? How many possibilities out of 6?

Answer 3

im asking :P

Answer 4

No you asked a question. I am asking you a part of your question. You should know at least this.

Answer 5

i know how to solve it :O
just for fun

Answer 6

-.-

Answer 7

xD

Answer 8

The answer should be 20/3 but i might be wrong.

Answer 9

you are wrong for one reason
20/3 >1

Answer 10

I told you I was wrong
The chances of me rolling a die to lose is 4/6 == 2/3
I don't know how to account for it 10 times

Answer 11

hmm well think again 2/3 is high value, also its binomial distribution .... try it :)

Answer 12

I honestly don't know. Show me yourself.

Answer 13

i wont reveal lets see if others can do it ^_^

Answer 14

remember my question is asking about losing money, (not guessing wrong)

Answer 15

haha, well the cute thing is the chance is pretty law so if it was gambling i'll play this game :D

Answer 16

expected value = 0

Answer 17

hmmm interesting ...

Answer 18

but no xD

Answer 19

out of 10 rolls, you need to loose at least 7 times to make negative money

Answer 20

yessss exactly xD

Answer 21

simply find P(x >= 7)

Answer 22

yesss !

Answer 23

OHHHH

Answer 24

You can do a probability tree to find out the possibilities of losing

Answer 25

:D

Answer 26

that doesn't look right, one sec

Answer 27

hehe see its small value

Answer 28

binomial distribution :
\[P(X\ge 7) = \sum\limits_{k=7}^{10}\binom{10}{k} (4/6)^{k} (2/6)^{10-k} = \dfrac{11008}{19683} \approx 0.559 \]

Answer 29

it should be 1- ur value right ?

Answer 30

\(0.559 = 55.9\%\) chance for loosing money

Answer 31

thats not small, i wouldn't be willing to play this game wid u lol

Answer 32

hehe ok i made same mistake u did id first reply :P

Answer 33

would u play tossing a coin ?

Answer 34

it is wise not to play any casino games wid statisticians :P

Answer 35

lol why so