Question: Please read the NEW question carefully. The final answer should be precise and important.For any calculation question, please keep all decimal places in your intermediate

Please read the NEW question carefully. The final answer should be precise and important.For any calculation question, please keep all decimal places in your intermediate calculations. For the final answer, enter the number of decimal places as indicated in the question. Thanks

Arya is playing a game with a friend by rolling a fair die (i.e. the die has 6 faces each with probability 1/6 of being rolled). If Arya rolls 3 or below, she loses and has to pay her friend $3. If she rolls 4, it's a tie and no money is exchanged. If she rolls 5 or 6, she wins and her friend must pay her. How many dollars should Arya's friend pay her to make the game fair?"Fair" meaning that the expected winnings of the game is the same for Arya and her friend.

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Mathematics Questions!