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A casino introduces a new game. In this game you roll a die and the upper...

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Statistics

A casino introduces a new game. In this game you roll a die andthe upper most number is recorded. If you roll an odd you lose. Ifyou roll a 2 you win $1, if you roll a 4 you win $5 and if you rolla 6 you win $10.

A) If the game costs $5 to play what is the expected gain/lossof the game?

B) Instead of $5 to play, what should the cost to play be tomake this a fair game?

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