Question:

A 5-sided die is loaded so that the number 5 comes up one-third of the times it is rolled. The die is rolled, and you win or lose money depending on the number rolled. The prizes are listed in the tab

A 5-sided die is loaded so that the number 5 comes up one-third of the times it is rolled. The die is rolled, and you win or lose money depending on the number rolled. The prizes are listed in the table below. To play this
game you must pay $6.
Roll                        Prize($)(x)         P(x)    x.P(x)
1                                double
2                                    -5
3                                    -1
4                                     12
5                                    -10
a.
Is this a fair game? Explain.
b. What is the expected profit per game for the owner of the game?

A 5-sided die is loaded so that the number 5 comes up one-third of the times it is rolled. The die is rolled, and you win or lose money depending on the number rolled. The prizes are listed in the table below. To play this game you must pay $6. Roll Prize($)(x) P(x) x.P(x) 1 double 2 -5 3 -1 4 12 5 -10 a. Is this a fair game? Explain. b. What is the expected profit per game for the owner of the game?

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