offer you the following game. Suppose I have a fair 10 ded dice. Each fo of the dice will cost you $1 - however, you can roll the dice as many times as you want. any point, you can choose to stop rolling, and I will pay you the amount of money show When should you stop rolling the dice, and how much money do you expect to make?

MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
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Problem 7. I offer you the following game. Suppose I have a fair 100-sided dice. Each roll
of the dice will cost you $1 - however, you can roll the dice as many times as you want. At
any point, you can choose to stop rolling, and I will pay you the amount of money shown.
When should you stop rolling the dice, and how much money do you expect to make?
Transcribed Image Text:Problem 7. I offer you the following game. Suppose I have a fair 100-sided dice. Each roll of the dice will cost you $1 - however, you can roll the dice as many times as you want. At any point, you can choose to stop rolling, and I will pay you the amount of money shown. When should you stop rolling the dice, and how much money do you expect to make?
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Why is the expected value 50.50? When you've said it should be 100/2 in the explanation?

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