Question

In a dice game, you win if the two dice come up 11. Otherwise, you lose $1. What should be the profit for winning to make this game fair?

Answer 1

do you know what the probability is you get an 11 on the sum of two dice?

Answer 2

I do not

Answer 3

lol what did you do, turn around?

Answer 4

ok there are two different ways to roll an 11, \((6,5)\) and \((5,6)\)
out of the 36 possible rolls
probability it \(\frac{2}{36}=\frac{1}{18}\)

Answer 5

I knew there were 2 ways i just didn't know what to do with it lol

Answer 6

we are not done yet

Answer 7

I know

Answer 8

17 out of 18 times you lose $1 so you better win $17 when you do roll an 11

Answer 9

you can think of it this way
roll 18 times, you lost 17 times and win once
so you lose $17 and therefore you have to win $17 to break even

Answer 10

Ahh...okay. Sorry I'm really bad at math if you can't tell..

Answer 11

wasn't that hard though, was it ?

Answer 12

not too bad

Answer 13

lol