a fair gambling game

majda

New Member
#1
You want to invent a gambling game in which a person rolls two (unbiased) dice
and is paid some money if the sum is 7, but otherwise he loses his money. How
much should you pay him for winning a € 1 bet if you want this to be a fair game,
that is, to have expected value 0? (solution: € 6)

so far i got the following

1/6 chance of winning
so E(x)=0 = (1/6)x+ (5/6)*-1
X=5

he has to pay 5, but that is incorrect
 

majda

New Member
#2
I think I understand it, I calculated the profit the gambler will make not how much he will get paid, he will get an additional 1 euro.